NATCHEZ — Mississippi River Corp. has filed for Chapter 11 bankruptcy reorganization in Ohio, the home of its North American Paper Co. division.
The recycled-pulp manufacturer that employs about 60 people at its plant in Natchez, lists assets between $1 million to $10 million and liabilities between $10 million to $50 million in the filing in U.S. Bankruptcy Court. The highest amount owed to one creditor is about $505,000 owed to Waste Management of Germantown, Wis.
It estimates being able to repay its creditors.
MRC vice president George Matthews said Feb. 19 that the company will “emerge stronger and healthier.”