By John Glenday

A Fife-based producer of cards, covers and premium packaging has gone into administration after suffering a perfect storm of events including a collapse in European exports owing to the appreciation of Sterling, the insolvency of its third largest customer and a spike in the cost of raw materials.

The employee-owned firm has racked up £18.5m losses over the past five years as demand has fallen and margins have shrunk, prompting bosses to seek a buyer for the business last autumn – to no avail.

Joint administrator Blair Nimmo commented: “This is a sad day for the employees of Tullis Russell Papermakers, who Read full story ›

Source: The Drum