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Recent Paperclips Industry News
10Jul 20
Sappi to close PM2 at its Stockstadt mill in Germany, PM9 and energy complex at its mill in Westbrook, ME
Sappi announces the closure of Paper Machine 2 at its Stockstadt Mill in Germany as well as Paper Machine 9 and the energy complex at its Westbrook Mill in the USA. Following an exhaustive consultation process an agreement was reached with mill employee representatives to permanently close PM2, which has a Coated Woodfree paper production capacity of 240 000 tons per annum. Stockstadt will now focus on its strong and growing uncoated woodfree offering. Approximately 170 employees will leave the company with production expected to cease on 30 September 2020. After a period of review, Sappi North America has decided to permanently shut PM9 and the majority of the energy complex at its Westbrook Mill in the State of Maine. Approximately 75 employees will be impacted. The impacted assets are expected to close by end of calendar year 2020.
10Jul 20
Sur La Table files for bankruptcy with plans to close nearly half its stores (chainstoreage.com)
Sur La Table is slashing its store footprint as it seeks to prosper under new ownership. The nearly 50-year-old, upscale kitchenware retailer said it filed for Chapter 11 bankruptcy protection after considering the "rationalization of its national store footprint and “certain store closures to prosper in the current retail environment.” On its FAQ page, the privately held Sur La Table said it has decided to close over 50 of its 121 stores (see list at end of article). Great American Group LLC and Tiger Capital Group LLC will conduct the liquidation sales, which are expected to last eight to 12 weeks. “We have filed for Chapter 11 bankruptcy protection to reduce the company’s expenses and recover from the financial impact of the COVID-19 crisis,” the company stated on its FAQ page.
10Jul 20
Booksellers Select the Top Ten Titles from the First Half of 2020
Barnes & Noble Inc. announced that booksellers from across the U.S. selected ten titles as the Best Books of 2020 (So Far), including books that address our current moment, share lessons from the past, and bring memorable characters—both real and imagined—to life. “Our passionate bookselling team has undertaken the distinct challenge of narrowing down our favorite books from the first half of 2020 into a short list of ten diverse and thought-provoking titles. The result is a unique range that includes the informative and historical, to electrifying new novels and even a heartwarming children’s tale about a dog, a gorilla, and an elephant,” Jackie De Leo, Vice President, Bookstore, Barnes & Noble. “I am really impressed with our booksellers’ selections, and I am pleased to recommend these titles to our customers.”