Administrators tell of disappointing bids for East Lancs

Bids for the East Lancashire Paper Company have been described as “disappointing” by administrators Arthur Andersen.

The administrators for the plant in Radcliffe, Manchester have said they have received a number of bids for the business but the level of them is “disappointing”. Now an announcement on the future of the mill could come next week.

The plant produces coloured papers and lining papers and is a purchaser of various recovered material including mixed paper and coloured grades.

A statement from East Lancs last month said that the administrators planned to work with the management team to continue to trade the business “with the objective of achieving its refinancing or its sale as a going concern and will immediately undertake a detailed review of the business to try to return it to profitability as soon as possible”.

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