Chesapeake Corp. winds down Richmond operations

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Chesapeake Corp. has completed the sale of its business units and is winding down its Richmond operations, according to the Richmond Times-Dispatch.

The specialty-packaging company filed for Chapter 11 bankruptcy in December. It sold its business units to an investment group for $485 million. Investors include Irving Place Capital Management LP and Oaktree Capital Management LP.

Chesapeake now will be based in Amersham, England, where the company already had an office. Although the company was based in Richmond, most of the company’s operations were overseas.

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