US pulp and paper manufacturer Verso Paper is in financial difficulties and is evaluating the possibility of entering bankruptcy proceeding, including Chapter 11 bankruptcy proceedings. "We anticipate that we will not have sufficient resources to fund our most significant future cash obligations and, therefore, we believe that there is substantial doubt about our ability to continue as a going concern in the absence of a restructuring of our balance sheet", the company said in its quarterly report.
Verso is also considering the potential sale of the Duluth and Stevens Point mills.
