Austrian paper merchant Papernet stopped operations in the fourth week of July after having failed to find an investor. The Paperlinx subsidiary was unable to continue trading due to the cash flow problems of its parent company. The closure is affecting 56 staff. Papernet's liquidator Mr. Gerhard Schilcher of Kosch & Partner Rechtsanwälte has confirmed the shutdown.
Paperlinx Netherlands Holdings filed for insolvency at the end of June, so Czech Ospap is now the only European Paperlinx subsidiary which has avoided insolvency proceedings.