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Portfolio & StrategyOperations & Footprint 18 Sep 2026

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.
Kokusai Pulp & Paper counterparty Ovenden Papers
Sources harlowonline.co.uk
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-12 · Edited before publication: Style failure: six sterling amounts with no USD conversion. All converted at GBP 1 = USD 1.3220 and restated with the original in brackets, in headline, summary and key facts. Facts themselves are grounded in the administrators' proposals as reported.
  • 2026-10-12 · Edited before publication: Grounding and all seven GBP-to-USD conversions check out against the rates given. Two changes. Materiality 1 is too low: a 47-employee merchant with GBP 24.4m of sales leaving the market and its stock, IP and customer base passing to Antalis is consolidation in UK paper distribution, which is a 2. 'Why this matters' cited margin pressure; the administrators give reduced