Merrimac Paper Co. and its wholly owned subsidiaries, Holyoke Card Company, Inc. and Aquamac Corp. voluntarily filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court, District of Massachusetts. According to the company, the filing, made earlier this month, will facilitate Merrimac’s restructuring which is designed to restore the company to long-term financial health while operating in the normal course of business.
“The past few years have seen the industry, including our vendors and customers, face some very difficult financial challenges, “ said Don Plummer, Merrimac Paper’s president and CEO. The company concluded that in order to continue to effectively compete in the present marketplace, a restructuring of its finances and operations was essential, and that these goals could be best achieved through the Chapter 11 process. The business plan for restructuring will build off of Merrimac Paper’s historic strengths as a specialty paper producer and enable the company to profitably grow in the future.
Merrimac Paper Company, Inc. and Holyoke Card Company, Inc. are manufacturers of specialty colored Kraft papers, coated, embossed and printed papers for the office products, publishing, board/photo mount and packaging markets.Latest from Recycling Today
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