The former Arjowiggins production site taken over by Be Paper in northern France is in receivership, due to “an unfavorable economic climate and a historic breakdown”, according to Printindustry.
The paper mill was officially placed in receivership by the Lille Métropole Commercial C
The owner is now looking for viable solutions, including the possibility of selling to another buyer.
The mill produces corrugated base paper (PPO) from waste paper and employs around 140 people in Wizernes, Pas-de-Calais.
Cornet Vincent Ségurel, the law firm handling the case, comments 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" .
This unfavorable situation was negatively impacted by a disruption in energy supplies in August, including a major blackout which led to a complete shutdown of production.
Be Paper, which has been placed under court protection, also includes OndulExpress and Express Packaging, and has nearly 500 employees.
A "high-performance site" looking for a buyer
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".
The firm emphasizes Wizpaper's industrial advantages: " The company benefits from a high-performance site and a committed team, but many external factors have called this model into question".
According to its advisors, the company should be placed in receivership, "should enable us to focus our efforts on finding viable solutions for Wizpaper's future, while ensuring the solidity of the group as a whole." .
Henri Breban, Chairman of Be Paper, adds in the same press release: "Our priority is to maintain the business, protect our teams and preserve the Group's stability. We will do everything in our power to ensure the long-term future of the paper mill".
This blow to Wizpaper comes just over a year after the definitive closure of RDM Blendecques, just a few kilometers away. In August 2024, this paper mill specialized in recycled cardboard closed its doors, resulting in the loss of 176 jobs.
