"I feel terribly sorry for the staff," said Santhe Dahl, chief executive officer of the VIDA Group. "We have looked at various solutions to arrange working capital, including selling parts of the property," he said but added that all efforts had failed due to the prevailing economic conditions and VIDA Paper’s unprofitability. The mill had not been profitable for six years.
VIDA Paper’s funding is separate from other companies in the VIDA Group, which are unaffected by its bankruptcy.
