MARATHON, ON—Marathon Pulp is the latest pulp mill to close, putting nearly 250 employees out of work.

The mill, owned equally by Tembec and Kruger, owes more than $50 million to its creditors. It filed for bankruptcy protection in mid-February, and was idled.

The 65-year-old mill produces 186,000 tonnes of northern bleached softwood kraft pulp annually.