STEVENS POINT, Wis. (WSAU) — The company that owns the paper mill in Stevens Point is considering bankruptcy reorganization due to large recent losses.
Tough times continue in the paper industry. Verso Corporation is looking into filing for Chapter 11 bankruptcy reorganization after losing 111-million dollars in the third quarter of this year alone. One thing the company is considering is selling four of it’s mills, including Stevens Point and Duluth, because demand for coated paper has fallen sharply due to foreign imports.
The downtown Stevens Point mill employs 240 workers, where they specialize in coated papers often used in high-quality books and magazines.
Verso just acquired the Stevens Point and Duluth mills when it bought NewPage in January.
