Sealed Bids in for Tullis Russell Brands

Tullis Russell brands include Advocate, Trucard, Naturalis and Mellotex.

June 9, 2015 (PrintWeek) - Speculation is mounting over the future for Tullis Russell's valuable brands, as it emerged that the failed papermaker was owed more than £1 million by Paperlinx when the merchant went into administration.

KPMG, the administrator of Tullis Russell Papermakers, is in the process of auctioning off the firmís brands and stock through a sealed bids process.

The sealed bids auction closed at noon yesterday (8 June).

"We're all on tenterhooks waiting to see what will happen," said one interested party.

A number of UK and overseas paper merchants and manufacturers are understood to have expressed interest in the Tullis Russell sale items. Arjo Wiggins, GF Smith, James Cropper and Mohawk are among those tipped as possible purchasers.

The Tullis Russell brands include Advocate, Trucard, Naturalis and Mellotex.

One of the major stock lots in the sale is for 50,000 tonnes of Trucard.

Go to the full story at PrintWeek.com: Bids in for Tullis Russell brands.

SOURCE: PrintWeek