Questions go unanswered Monday on Appleton Coated’s fate
Appleton Coated’s employees were left hanging Monday afternoon with no news on their mill's sale to Industrial Assets Corp., a used machine dealer and liquidator based in Los Angeles.
Last Monday, Outagamie County judge Gregory Gill asked lawyers to have the modified purchase agreement complete in five business days.
On the fifth day, which was Monday, the court closed at 4:30 p.m. with nothing filed.
Many questions linger about what's going to be in the final documents.
Will the mill still get a 45-day reprieve in which an estimated 195 workers will be called back to operate some of the paper machines?
Will Industrial Assets use that time to seek a new buyer who could potentially operate the mill going forward?
About 550 of the 620 employees were laid off on Sept. 19 and 20. Click Read More below for more of the story.