ATM files for bankruptcy.
American Tissue Mills of Maine (ATM), Augusta, Maine, USA, filed for bankruptcy in U.S. Bankruptcy Court in Portland, Maine. The one-mill operation has been closed for the past two years. According to a report by the Kennebec Journal, the bankruptcy petition was filed to prevent the city of Augusta from seizing the mill for back taxes. Previously, the mill manufactured jumbo tissue rolls from recycled paper. ATM is a subsidiary of American Tissue, Hauppauge, New York, which itself is bankrupt. According to the report, ATM's parent company is attempting to sell the Augusta plant.