Pope & Talbot has received the go-ahead it needed to liquidate its remaining mills.
Pope & Talbot has received the go-ahead it needed to liquidate its remaining mills.
According to a recent report by the Portland Business Journal, U.S. Bankruptcy Court Judge Christopher S. Sontachi authorized the company to move from Chapter 11 reorganization and into Chapter 7 liquidation.
An auction of Pope & Talbot’s pulp mill and plant in Halsey, Oregon is scheduled to take place on May 13. The facility employs roughly 180 people. The Portland Business Journal further reported that the Halsey facility was one of two other pulp mills in BC that were part of a $105.3 million sale to PT Pindo Deli. The deal fell through last week. The Asia Pulp and Paper subsidiary has made a separate bid to purchase Pope & Talbot’s Fort St. James sawmill in BC, for $6 million, but that deal has not yet closed.
The Portland Business Journal additionally confirmed that Pope & Talbot is preparing to idle the three mills, and that potential buyers have shown interest in all three.
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