The former Arjowiggins mill has been liquidated by the Lille court in France, PrintIndustry reports.
The mill closure will affect 147 employees directly. The mill was relaunched in 2018, with support of local authorities and produced corrugated base paper (PPO) from recycled paper for the cardboard packaging sector, according to PrintIndustry.
In early October this year, the mill was placed in receivership, due to “an unfavorable economic climate and a historic breakdown”.
Cornet Vincent Ségurel, the law firm handling the case, then commented the move, as quoted by Printindustry:
"For several months, the company has been suffering from the combined effects of inflation, the historic rise in energy costs âeuros gas and electricity âeuros due to the war in Ukraine, and a marked slowdown in the paper market".
The purpose of receivership is to to "preserve the business and jobs by giving time to a potential candidate to take over the business which is currently in difficulty".
Wizpaper was owned the Be Paper group, which also owns OndulExpress and Express Packaging. Be Paper is also in the process of being placed under court protection.
