PORT ANGELES, WA — Port Angeles officials will not pursue $1.6 million owed by the owners of Peninsula Plywood, which closed its doors last November.
Commissioners determined that the owners do not have any assets to cover unpaid rent, utilities and other monies owes to the Port of Port Angeles, according to the Peninsula Daily Times. The newspaper said the port will spend approximately $1.9 million to demolish the 70-year-old facility, nestled on 19 acres, and redevelopp it for marine trade businesses.
The port could still try to recoup some or all of PenPlay's debt if changing circumstances warrant, the Peninsula Times added. The port authority auctioned off equipment in June.
PenPly owners reopened the mill in March 2010; it had been closed in late 2007 by Klukwan Inc. The mill employed as many as 130 people as late as July 2011.
Related Content
PenPly's Fatal Crash: Epilogue 4-13-12
PenPly's Wild Ride Ends in Crash (Timeline) 1-13-12
Rich Christianson is Associate Publisher and Editor at Large of Woodworking Network. During his 25+ years covering the wood products industry, Rich has toured hundreds of manufacturing plants throughout North America, Europe and Asia. His reporting has covered everything from the state of the industry and impact of wood imports to technology and environmental issues. In his current capacity he is responsible for editing the daily Woodworking Network Update newsletter and coordinating events including the annual Cabinets & Closets Conference & Expo and Canada’s biennial Woodworking Machinery & Supply Expo.
Comments (0) Leave a comment