AbitibiBowater appointed administrators to its recycled paper mill subsidiary in February 2010, and it has since been acquired by Peel Ports in June 2010.

A series of online auctions have since taken place as Peel Ports sold off the company's remaining items ahead of the demolition and regeneration of the 55-acre, Wirral-based site.

Some 200 bidders took part, from countries as far away as Pakistan, India and the Middle East, but the majority of lots were sold to end users and dealers based in the UK.

King Sturge P&M senior associate Andy Booth said: "There was a diverse range of assets on offer which attracted some 200 bidders from all around the world and across many different industry sectors.

"Whilst there was substantial international interest, the majority of items were eventually sold to UK bidders, which shows that even though the industry is going through a tough patch there is still a strong demand for industrial machinery assets, which can only be good for the future."

AbitibiBowater temporarily laid off 108 staff at its Bridgewater Paper Company subsidiary, and appointed administrator Ernst & Young in February 2010.

The recycled paper mill had a production capacity of 220,000 tonnes per annum.

Palm Group acquired the business and assets of BPCL from the administrator, safeguarding all 40 jobs, later on in February 2010.