Former Bear Island Paper posts $558,263 June net loss on zero sales

By Caroline Salls

Pittsburgh, July 29 - Estate Bipco, LLC, formerly Bear Island Paper Co., LLC, posted a net loss of $558,263 for June on zero net sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

In comparison, Estate Bipco reported a $1,649 net loss for May, also on zero net sales.

The company had $8.06 million in cash as of June 30, down from $8.15 million at the end of May.

Bear Island, an Ashland, Va.-based subsidiary of White Birch Paper Co., filed for bankruptcy on Feb. 24, 2010. Its Chapter 11 case number is 10-31202.

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