Antalis buys Ovenden Papers business out of administration for USD 297,000
Harlow-based paper wholesaler Ovenden Papers was placed into administration on 18 September 2026 and its stock, vehicles, intellectual property, plant and goodwill were sold the same day in a pre-packaged deal to Antalis for USD 297,000 (GBP 225,000). All 47 employees transferred under TUPE rules; unsecured creditors are expected to receive nothing.
Why this mattersFalling demand for paper has removed a 47-staff UK merchant from the market and handed Antalis its stock, IP and customer base for USD 297,000 (GBP 225,000).
- Antalis paid USD 297,000 (GBP 225,000) for stock, vehicles, intellectual property, plant and goodwill on 18 September 2026.
- All 47 employees transferred to Antalis under TUPE.
- Sales fell from USD 50.1m (GBP 37.9m) in the year to March 2025 to USD 32.3m (GBP 24.4m) the following year.
- After-tax losses were USD 1.94m (GBP 1.47m) and USD 2.35m (GBP 1.78m) in those two years, plus USD 929,000 (GBP 703,000) in the four months to July 2026.
- Secured lender Praetura was owed USD 5.16m (GBP 3.91m) and is expected to recover in full; unsecured creditors are expected to receive nothing.
- Administrators Alvarez & Marsal approached 63 potential buyers and received one offer.
Sources
harlowonline.co.uk