Financially troubled paper mill seeks buyer, plans layoffs [View all]
PARK FALLS, Wis. (AP) — A financially troubled paper mill in northern Wisconsin is seeking a buyer as an alternative to bankruptcy.
Wisconsin Public Radio reports that Flambeau River Papers in Park Falls is citing declining demand for its products and increasing pulp prices as reasons for its money troubles. The company says a trustee will be appointed through the courts to oversee its operations.
Bill Johnson, a spokesman for the company, says layoffs also are likely in the next couple of months as the mill moves toward becoming a specialty-paper maker. The mill employs about 200 workers.
Park Falls Mayor Michael Bablick says the mill has been the center of economic activity in the city of 2,500 people for more than a century. He says the mill’s struggles will affect the city economically and “in morale.”
Read more: https://dailyreporter.com/2019/05/10/financially-troubled-paper-mill-seeks-buyer-plans-layoffs/
(Milwaukee Daily Reporter)
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