PORT ANGELES, WA -- Peninsula Plywood (PenPly), a company that has battled against stubborn economic forces, closed last week, with hopes of one day reopening again.

The company's final 15 workers were furloughed last week, according to the Peninsula Daily News. The company had employed 130 people in July but has struggled to develop sufficient revenues to meet its expenses. This is in spite of receiving a $500,000 grant from the Washington Department of Commerce.

The Daily News recently reported that PenPly owed almost $300,000 for utilities on top of nearly $83,000 to the city of Port Angeles for rent.

PenPly owners reopened the mill in March 2010. It had been closed in late 2007 by Klukwan Inc.