Baldwin questions bank about Appleton Coated closure

WASHINGTON (WBAY) - US Sen. Tammy Baldwin (D-Wisconsin) is seeking more answers after hundreds of workers at Appleton Coated lost their jobs.

The Combined Locks paper mill went into receivership back in August. It was sold to a California liquidation company last month. Industrial Assets is shuttering the mill if it doesn't find another buyer.

Sen. Baldwin wrote a letter this week to PNC Bank, questioning why the bank called in its loan and demanded full payment immediately when Appleton Coated had not missed a single loan payment.

Baldwin says, "I am deeply concerned that PNC Bank appears to have recklessly pursued short-term profit at the expense of Appleton Coated, its workers, and their families."

Her letter includes a series of questions to better understand what led up to the mill's closure.



 
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