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More than 200 workers at Aylesford Newsprint have been made redundant after the company, which has been based in Kent since 1922, went into administration yesterday.
Sixty-five other members of staff are being kept on to help administrators KPMG with the sale of the site in Aylesford.
The newsprint paper manufacturer, which has now been shut down, produced on average 400,000 tonnes of recycled newsprint from 500,000 tonnes of recycled waste fibre every year.
Allan Graham at administrator's KPMG, said: "Significant overcapacity in the newsprint market, coupled with rise of digital media, has created challenging operating conditions for Aylesford Newsprint.
"The business has been loss-making for a number of years and was unable to be maintained as a going concern.
“We are on site and will be working closely with the Redundancy Payments Office to support the staff impacted by the administration.”
Tracey Crouch, Conservative MP for Chatham and Aylesford, has met with business minister and spoken to Union and job centre reps to make sure staff affected are fully supported.