Months after furloughingmore than 300 employees, Verso Corporation says its Wickliffe paper mill will close by July 1. Verso cited low demand and increased foreign imports when idling the facility in November.
In a news release, the company says it was in talks with potential buyers for the mill but was unable to secure a deal.
Furloughed staff along with an hourly maintenance skeleton crew have been told their last day is June 4th. All employees will receive a severance allowance.
Ballard County Judge/Executive Vickie Viniard previously said the county would lose $500,000 in payroll taxes from the mill's idling. A University of Kentucky study estimated a direct economic impact of $301 million to the area.
