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.

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