ONE of Blackburn's major private sector employers has confirmed a probe by a financial watchdog has been dropped.

Bosses at Accrol, the tissue paper firm with three sites locally and one in Leyland, had previously confirmed the Financial Conduct Authority was investigating their accounts from April to November 2017.

But it was later announced the inquiry had been widened to cover June 2016 to September 2018, covering the period from when the firm started trading on the AIM market.

But the company, which employs around 450 people in Lancashire, has now informed the Stock Market that the inquiry has come to an end.

An Accrol spokesman said: "Accrol is pleased to announce that the FCA has notified it that the FCA has closed its investigation and will not be taking any action."

Earlier this month the Lancashire Telegraph reported how the firm had returned to profit after a successful turnaround programme.

Staff were told that the company had converted a £1.1million loss to a £3.2m annual gain.

Plans are also in place for additional automation to be installed at their sites.