The Klausner Group’s first US sawmill, Klausner Lumber One in Florida, is scheduled to be sold within 90 days.
This emerges from a court decision of May 14, which the American justice portal Law360 quotes on its website.
On May 14, a bankruptcy judge in Delaware granted the Klausner Group preliminary approval to receive funding from an affiliate. The Florida sawmill currently has no water, sewage, or electricity connections. Insurance coverage is also lacking, Law360 reports.
According to Law360, Klausner Lumber One led to approximately $ 100 million in bankruptcy. Now it is planned to complete a sales process within 90 days. The company hired an investment banker to sell the sawmill, which, according to court records, is valued at $ 140 million. There will be a meeting of the Klausner creditors on the phone on June 4th.