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April 28, 2021 4:22 PM Melissa Luck
Updated:
PC: NAI Black Realty
SPOKANE, Wash. The Ponderay Newsprint Company will be sold to Allrise, which plans to resume operations of the paper facility in the town of Usk.
Ponderay Newsprint shut down last summer when the owners filed for bankruptcy protection. More than 100 people lost their jobs, but a plant manager and small crew has kept the mill ready for a new owner.
Trustees held an auction to determine which path forward made the most sense for the community.
Three entities submitted bids: PPL Acquisition Group, the Kalispel Tribe of Indians and Allrise Capital. Each bidder provided a $350,000 deposit and took part in a live auction April 23rd.