Aylesford Newsprint to enter administration
A newsprint firm that employs more than 300 staff is applying to enter administration, it has announced.
Aylesford Newsprint, which produces more than 400,000 tonnes of recycled newsprint every year, has been manufacturing in Kent since 1922.
The company said it had told staff it was making an application to the courts to go into administration.
Tracey Crouch, the Conservative MP for Chatham and Aylesford, said; "It's absolutely devastating news."
In a statement earlier, an Aylesford Newsprint spokesperson said: "The company announced to staff this morning that it would be making an application to the courts to go into administration and expects this to go to court later today.
"When administrators are appointed we will provide more information."
Ms Crouch said she had requested a meeting with the business minister.
"It's been around for nearly a century," she said of the company.
"Its 300 employees won't know what their future holds."