NewPage Says It's Business as Usual Despite Bankruptcy Filing
The company says restructuring was needed to put it on better footing in light of changes in the paper market, while continuing to develop new technologies, quality products and ethical business practices.
"The company's current capital structure was put in place during a different time with different assumptions," the website reads. "Industry trends and the broader economic environment have left NewPage burdened by its current debt levels. The company's restructuring is expected to result in an overhaul of its balance sheet that will better align its capital structure with its operations—leaving NewPage in a better position for long-term success."