Hopes of saving the Tullis Russell plant in Glenrothes appear to have been dashed with news that a further 21 employees have been made redundant while operations are wound down.
Administrator Blair Nimmo said the level of interest shown in the business and the outcome from Monday’s closing date for takeover bids was “disappointing”.
Mr Nimmo said: “The business continues to face considerable economic challenges as a result of weakening global demand for printed materials, rising raw material costs and the strengthening of Sterling against the euro.
“We will now be working with the company’s remaining employees to continue to wind down operations and focus on realising the company’s assets.
“Unfortunately that will mean further redundancies but we will continue to work with government agencies to offer support to those affected.”
On appointment of the joint administrators’ three weeks ago, 325 of Tullis Russell’s 474 staff were made redundant.
The remaining staff were kept on to meet existing customer orders.
Administrators were appointed on April 27 but no offers for the firm were were received by Monday’s deadline.
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