American Tissue Inc., as well as its domestic subsidiaries, filed for Chapter 11 bankruptcy protection Sept. 10.
The company, headquartered in Hauppauge, N.Y., has been struggling over the past several quarters with the difficult market conditions. The company has a number of mills in the Northeast and Midwest. It is a sizable consumer of many office grades of recovered fiber.
The company has been taking a number of its mills and machines offline over the past several months in an attempt to reduce its expenses.
For many paper stock dealers, there are a number of concerns over the impact the filing will have. On the one hand, a number of paper stock dealers have been shipping the company’s mills with a steady supply of material. The notice could make it more difficult to obtain the money for the material shipped.
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