Closedown of paper mill Feldmuehle imminent

Paper mill Feldmuehle in Ueterse (near Hamburg, Germany) is in bankruptcy. The paper manufacturer will continue until March and the 420 employees will be paid until then. What happens after March is uncertain. The administrator in bankruptcy is optimistic about the future. Paper mill Feldmuehle produces 250,000 tons of paper for printers (Exceo) and the packaging industry (flexible packaging and labels). The mill started in 1904 and has – except for the wars – produced for over 100 years. 
The reason for the financial problems is the fact that paper giant Stora Enso sold the mill to a private investment firm.