Linden Lumber on ropes

The Marengo County Commission is considering a way to help Linden Lumber Company avoid foreclosure and avoid the loss of over 400 jobs with a payroll of $13 million and an economic impact of $50 million annually.

The Federal Land Bank is advertising a foreclosure of Linden Lumber properties in Linden and Thomasville.

The Marengo commission will hold a public meeting at 4 p.m. Friday at the Linden courthouse to consider a resolution for a $7 million bond issue to pay the loan.

A portion of the $7 million would be used to satisfy the bank debt and the rest would be used to purchase equipment the company has had on order for a year.

Marengo Commissioner Freddie Armstead said this wouldn't be a bailout for Linden Lumber, that the county would do the same to recruit a new industry to the county.

Any bond issue would be secured by the company's property, reportedly appraised at $18 million.

Foreign competition is blamed for the longtime successful company's current woes. The foreclosure sale is set for Sept. 7 on the steps of the Marengo County Courthouse.

See the full foreclosure notice on Page 10B.

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