Negotiations with preferred bidder fell through.
Joint administrators for Arjowiggins' businesses in the UK, FRP Advisory, said that negotiations with a preferred bidder on a number of the company's assets ended without a sale. "Discussions will now be progressed with the MBO team, Scottish Enterprise and other interested parties over the coming weeks to explore whether a sale can be secured. In the meantime, it remains ‘business as usual’ and the plant continues to operate,” a spokesperson for the joint administrators said.
In March, the administrators had selected a preferred bidder to negotiate the possible sale of ArjoWiggins Fine Papers Limited's operations at Stoneywood in Aberdeen and in Basingstoke, and ArjoWiggins Chartham Limited in Chartham, Kent. In January, Arjowiggins' UK pulp and fine paper businesses where placed in administration.
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