Paperlinx Benelux enters insolvency proceedings
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Paperlinx seeks creditor protection for its businesses in Belgium and Netherlands.
Paperlinx B.V., the Paperlinx operating company in the Netherlands and Belgium, has filed for a Suspension of Payments under the Dutch Bankruptcy Code (Faillissementswet) on 14 April. The company cites "substantial ongoing operating losses due to declining revenues and falling profit margins from lowered demand for paper in the Benelux region together with challenges in restructuring, the tightening of supplier payment terms following withdrawals of trade credit insurance and the flow on impact of the PaperlinX UK administration" as the main reason for taking this action.
Source: www.euwid-paper.com
