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A BLOW TO BRANT: Peter Brant’s White Birch Paper Co. filed for Chapter 11 on Wednesday. President Christopher Brant said the company intends to operate as usual and will serve customers during and after the restructuring process. White Birch is seeking approval in Canada and the U.S. of $140 million in debtor-in-possession financing with some of its lenders.
A spokeswoman for Brant said the bankruptcy filing will have no bearing on Brant’s other businesses, including Brant Publications, publisher of Interview magazine. “Brant Publications Inc. is healthy and moving forward on solid footing,” said the spokeswoman. “Its publications Interview and Art in America have enjoyed a 20 percent year-over-year increase in business as of March 2010. The company attracted an additional equity investment in January from Malone New Media LLC, with whom Interview has developed mobile and digital editions and a much-anticipated iPad edition to be released concurrently with Apple’s new device in late March.”