The rights to some of stricken paper manufacturer Tullis Russell’s most respected product brands are to be sold to the highest bidder.
KPMG, the firm handling the affairs of the collapsed Markinch-based paper mill, which went into administration in April with the immediate loss of 346 of its 474 workforce, says it is confident buyers will be found for the brand rights.
Metis Partners, the intellectual property consultancy with offices in the UK and America, has been instructed to sell the Tullis Russell assets, which are highly respected around the world.
Before its demise, the 206-year-old manufacturer used to export sales of its paper products to over 120 countries, with brand names including Trucard, Mellotex Lustrulux and Gemini. End-users included such global brands as L’Oreal, Chanel, Hallmark, Swarovski and Finlandia.
Nat Baldwin, head of corporate recovery at Metis Partners, said the sale offered a unique opportunity to purchase the intellectual property assets of a long-established business, whose products are globally recognised.
“We have already received huge amounts of international interest from paper merchants and paper mills and are confident of successfully completing the sale of these valuable assets, shortly after the official deadline for offers tomorrow (Thursday),” he added.