Paper co. sues MaineToday Media
A North Carolina paper company has sued MaineToday Media, claiming the Portland company owes it more than $100,000 for paper.
McGrann Paper Corp. of Charlotte, N.C., filed the suit Tuesday in Cumberland County Superior Court, alleging MaineToday Media has not paid it $124,000 for more than 300,000 pounds of paper, the Bangor Daily News reported. Adam McGrann, the paper company's COO, in an affidavit accused MaineToday Media of purchasing paper it knew it could not pay for. The suit is seeking full payment and/or that any unused paper be returned. An attorney for MaineToday declined to comment on the suit.
According to the lawsuit, MaineToday Media is working with Boston-based CRG Partners, a firm that specializes in restructuring companies. On Friday, MaineToday CEO Richard Connor announced he will resign at the end of the year, and President Dale Duncan also stepped down, effective immediately. Last month, the company also shed 61 jobs through voluntary buyouts and layoffs. MaineToday Media publishes the Portland Press Herald/Maine Sunday Telegram, the Kennebec Journal, the Morning Sentinel and the Coastal Journal.
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