News
180 jobs lost as Curtis Fine Papers goes into administration
Independent paper manufacturer Curtis Fine Papers has gone into administration with the loss of 180 jobs.
The 135-year-old Guardbridge, St Andrews-based company called in administrators KPMG Restructuring this morning.
Of 260 staff, 80 have been retained to keep the company trading while the administrators attempt to find a buyer.
Blair Nimmo and Gary Fraser of KPMG Restructuring have been appointed as joint administrators by the company's directors.
Nimmo said: "It is with regret that we have had to make substantial redundancies across Curtis Fine Papers operations and we are working with government agencies to ensure the employees' issues are dealt with as best as possible."
The £35m-turnover company has experienced significant losses in recent years. However, it had witnessed an improvement in trading over the last year.
It is understood the company explored several opportunities to sell the business, but were unsuccessful.
Curtis Fine Papers managing director Keith Chapman was unable to comment at this time.
The company specialises in the manufacture and supply of quality uncoated fine paper for the UK and international markets.
Curtis' Guardbridge mill in Fife, Scotland
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Comments
Julie Cook - 24 July 2008
Another very sad day for print in the UK
Colin Thompson - 24 July 2008
What a tremendous period we are going through.
What is the future for the others?
This is going to be some recession!
Colin Thompson
Cavendish
www.cavendish-mr.org.uk
Jon Fennell - 25 July 2008
Sign of the times, commodity markets have little room for the specialists, another nail in the bespoke market.
Not convinced entirely on the recession's depth, but it will certainly clear the dead wood and take out the capacity.
I don't think marketeers are being as adventurous or have the budget, they are playing safe and procurement are making there own lives easy with standardisation. Curtis don't seem to fit current volume trend.
As Julie says yet another sad day.
All the best to redundant staff, take care and here's hoping for a better future
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