North America’s Second-Largest Newsprint Firm Goes Bankrupt

White Birch Paper Co., paper supplier to a paperless world, has filed for bankruptcy. Citing the tough economy, the company announced it would seek $140 million in debtor-in-possession financing, as well as permission to continue operations.

The first-largest newsprint company in North America, Abitibibowater, also beat White Birch into bankruptcy, filing for protection in April of last year. Poor White Birch — always a bridesmaid, never a bride.

Speaking of brides, this bankruptcy is just more bad news for White Birch Chairman and CEO Peter M. Brant. The newsprint mogul and publisher of Interview is also undergoing a messy divorce from 90s supermodel Stephanie Seymour, to whom he’s paying $270,000 a month in alimony.