Spicers says all attempts to sell its paper merchanting business in Germany were unsuccessful.
The local court of Darmstadt has opened full insolvency proceedings upon Paperlinx Deutschland and its local parent entity Deutsche Papier Holding on 29 December 2015. The insolvency court appointed Markus Plathner of law firm Brinkmann & Partner as the insolvency administrator.
In October 2015, Paperlinx Deutschland and Deutsche Papier had already filed for debtor in possession proceedings with the court of Darmstadt. According to Spicers Limited, formerly Paperlinx Limited, the decision to file for full insolvency proceedings for its German paper merchanting operations was taken as the business continued to trade unprofitably and attempts to sell the business were unsuccessful.
The company's visual technology solutions operation in Germany, Paperlinx VTS Deutschland, is reportedly not affected.
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