What’s next for Madison’s TimberHP after Chapter 11 bankruptcy filing?

SUN JOURNAL • April 6, 2025

By the end of 2024, finances at TimberHP were in distress. The growing expenses and unsuccessful attempt to raise more equity ultimately led the parent company of TimberHP, GO Lab Inc., to file for Chapter 11 bankruptcy protection March 25. As part of the prenegotiated Chapter 11 restructuring plan, the company said participating bondholders will invest $29 million to support the transition through bankruptcy and to provide capital for business growth, including the completion of its manufacturing line for the TimberBoard product. Madison, the third largest town by population in Somerset County with about 4,700 people, was faced with a serious blow when Madison Paper Industries announced its closure in 2016.