APPLETON, WI (WTAQ-WLUK) – A Fox Valley paper company is seeking Chapter 11 bankruptcy protection.
Appvion, which was formerly known as Appleton Papers, says it has a commitment of $85 million in new debtor-in-possession financing.
The company says the financing, along with cash generated by the company, should be able to support continued operations.
Appvion says employees will continue to be paid during the bankruptcy process and customers should not see any changes.
The company maintains it is “fundamentally sound,” but says its debt load is too high.
The company has posted documents relating to the case online, including a frequently asked questions section.
