West Point paper mill files for bankruptcy
One of the area’s largest employers, Smurfit-Stone Container Corp., has filed for Chapter 11 bankruptcy protection, according to published reports.
Chicago-based Smurfit-Stone operates the paper mill in West Point that employs 520 workers, including many Middlesex County residents.
In Virginia, Smurfit-Stone also operates a mill in Hopewell, and two plants in Richmond and one in Martinsville.
Under Chapter 11 protection, the company hopes to restructure its $3.5 billion debt (as of Sept. 30, 2008).
The containerboard plant at West Point continues to operate as usual without interruption, according to company officials.