Friday, 22 July 2011

Granville. Industry reputation affected

Paper merchants expect the collapse of Australian Envelopes, which has a facility at Granville, to hurt the industry's reputation with insurers, as unsecured debts exceed $10 million, including $6.5 million owed to Australian Paper. According to PPB, the administrator is working through a number of expressions of interests from potential buyers and the fate of Australian Envelopes could be revealed at the next creditors meeting on 26 July.

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