The loss-making recycled newsprint manufacturer, which was founded in 1922 and produced more than 400,000 tonnes of recycled newsprint each year, ceased to trade following the appointment of administrators KPMG on 24 February.

LSH has since been instructed by KPMG to undertake a sale of the company's assets, the majority of which will be sold via two online auctions on the 19 and 20 May.

The first auction will include internal transport and mobile plant, while the second will cover engineering and sheet metalworking equipment. Both auctions will be available to view on 12 and 13 May.

Principal items, including two paper machines and ancillary equipment, will be sold by private treaty in association with John Wilkie Paper Mill Services. The two paper machines include a Valmet line that Aylesford invested £250m in 20 years ago and a Beloitte Walmsley line.

LSH Machinery & Business Assets director Mike Hanson said: "This sale is sadly indicative of a decline in the newsprint industry which has suffered in recent years from over capacity and a tough operational landscape.

"Despite these unfortunate circumstances, we will use our expertise to undertake a targeted campaign to generate widespread bidder interest and secure a successful sale of Aylesford Newsprint's assets."

For further information on the sale, contact LSH (formerly ES Group) on 020 7633 2572.