image description

Luke Mill Sold to Private Equity Firm, Assets to be Auctioned

May 13th, 2022 by WCBC Radio

First reported on WCBC Radio, there has been recent rumors on the future of the Luke Paper Mill. It has now been confirmed that the property has been sold to Capital Recovery Group, a private equity firm that creates liquidity for its clients through liquidation auctions. The company will be selling off equipment and assets on the property, with plans to attempt to sell the site to a potential buyer. Attempts to sell the property to another paper producer remained unsuccessful since the paper mill closed in 2019. 

A three-day online auction has been scheduled June 1-3 beginning at 10 a.m. each day.