Orchids Paper Products Company – Auction Goes 32 Rounds; Nets $32mn Over Stalking Horse’s Opening $175mn Credit Bid

June 28, 2019 – The Debtors notified the Court hearing the Orchids Paper Products Company cases that (i) Cascades US Holding Inc. ("Cascades" or the “Purchaser”) had been designated as the successful bidder for Debtors' assets, with a $207.0mn cash bid, and (ii) Orchids Investment LLC (“OI,” an acquisition vehicle formed by the Debtors' prepetition,…