MONTROSE, Colo. (AP) -- Intermountain Resources LLC has suspended operations at its lumber mill in Montrose while it tries to raise capital.
Intermountain Resources public policy analyst Nancy Fishering said Wednesday the company is restructuring. It has about 100 employees.
Pat Donovan of Denver-based Cordes & Co. says the Montrose County District Court appointed his company the receiver to protect Intermountain's assets. Donovan says the mill shut down operations after May 1.
In November, the company received $500,000 in federal stimulus money allocated to the Colorado State Forest Service for forest restoration and fuel mitigation projects. At the time, the company said it would create 11 jobs and rehire six former employees.
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