The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17.21 - Manufacture of corrugated paper and paperboard and of containers of paper and paperboard
131 jobs Number of planned job losses
Announcement Date
7 January 2010
Employment effect (start)
6 January 2010
Foreseen end date
6 January 2010
Description
Cardboard manufacturer Western Corrugated has closed with the loss of 131 jobs. 82 jobs are to be lost at its main site in Torfaen, Cwmbran, and another 49 in Wolverhampton. Administrators KPMG said that 24 staff would stay on to help them wind down, but "[u]nfortunately following our assessment of the business since our appointment we have established that it is no longer viable and therefore have no choice but to cease trading with immediate effect."
The company had an annual turnover of nearly £50m, but over-capacity in the cardboard market and an increase in paper prices have been blamed for the closure.
Sources
7 January 2010: Wales Online Website
7 January 2010: BBC Website
Citation
Eurofound (2010), Western Corrugated, Closure in United Kingdom, factsheet number 70451, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70451.
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