Badger Corrugating Company May Layoff Staff Due To Foreclosure Action

Badger Corrugating Company, a building materials distributor located in La Crosse, Wisconsin, has notified the state that it may need to layoff most, if not all, of its employees as the result of a foreclosure action.

Currently, Badger Corrugating Company employs 150 to 190 employees.

Associated Bank, one of Badger’s creditors, wants a court-appointed receiver to oversee operations at Badger. A hearing on that request is scheduled March 3 in La Crosse County Circuit Court.

Associated Bank’s attorney, G. Jeffrey George, says its loan to Badger is not secure and now exceeds its assets by $1.5 million.

Attorneys for Badger say the company is viable, but the business has been affected by the tough economy.

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