ONE of the area's biggest employers closed yesterday (Mon Feb 26) with the loss of 180 jobs.
The shock shutdown at East Lancashire Paper Mill came a month after administrators Arthur Andersen were appointed to try to find a buyer.
They were unable to sell the business as a going concern although three bids were received.
Production at the 139-year-old business ceased immediately after the news was broken to stunned workers at the Church Street East mill.
Bosses blamed the closure on foreign competition, the strength of sterling and escalating raw material costs.
Mr David Hargreaves, regional officer of the GMPU (Graphical Media and Paper Union), said: "We are all devastated and some of the workers are very bitter. It's so very disappointing.
"We had hoped that East Lancs could have been sold as a going concern. Apparently, three bids had been received but these were 50 per cent below the value of the assets."
In January around 40 of the original 240-strong workforce were made redundant when Andersen's were appointed.
Twenty staff members will be kept on during winding down operations at the mill.
A spokesman for Arthur Andersen said: "The administrators were unable to return the mill to profitability and had not received any acceptable offers for the business."
The spokeswoman confirmed three written offers had been received. "But all were lower than the break-up value of the assets."
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