A spokesman for Appvion in Appleton says they’re working with lenders to try and keep the value and structure of their Employee Stock Ownership Plan.
The company is employee owned.
Bill Van Den Brandt says the current stock value is $6.85, and that’s down over the last year.
The company filed for Chapter 11 bankruptcy protection.
Van Den Brandt doesn’t want to speculate on where things may go because they’re still in the negotiation stages with their lenders. He says they stressed to the lenders that the workers are invested through ESOP, and they hope they take that into consideration.
