EAST MILLINOCKET (AP) — The corporation that owns Great Northern Paper’s East Millinocket mill and the land beneath it is filing for bankruptcy.
The Portland Press Herald (http://bit.ly/1tJi2s4 ) reported that the filing by GNP East Inc. follows a similar move by sister corporation GNP Maine Holdings Inc., which filed for bankruptcy in September. That corporation owns the mill’s paper-making equipment.
GNP East’s filing in federal bankruptcy court in Bangor shows assets between $10 million and $50 million and liabilities between $1 million and $10 million. The corporation must disclose how much it owes each creditor by Oct. 31.
It is unclear if the two cases will be combined. Great Northern Paper laid off more than 200 workers in February.