was reopened under new ownership and began making paper again for its customers in the United States. However, pensioners saw their benefits reduced by 20%. In order to assure operations, St. Mary's entered into financing, supply and exclusive distribution agreements with International Forest Products. Despite these efforts, which also included $25 million in startup funding from IFP and the Government of Ontario, the mill was unable to resume significant activity, and went idle once more in 2011. In December 2011, IFP applied to place the company into receivership, and a bankruptcy order was subsequently issued in June 2012. E&Y, acting as trustee in bankruptcy, reported that the realization of funds from the sale of assets would be insufficient to pay off liabilities due to the secured creditors. Acting as receiver, it proceeded to sell off all assets. Site redevelopment In 2013, the site was purchased by Riversedge Developments, a real estate developer which announced plans to convert the site into a mixed-use cultural and tourism hub through adaptive reuse of the most historically and architecturally significant buildings. Dubbed Mill Square, current plans for the site include the new home of the Algoma Conservatory of Music, a performance and arts venue, a bioenergy plant and Destination North, a cultural and tourism "hub" project that will incorporate interactive museum exhibits, a farmer's market and a new terminus for the Agawa Canyon Railway tour. The main building now houses a restaurant (The Mill Steak House), 2 pubs (The Boiler Room and The Steamfitter's Lounge), and a gelato/coffee shop (The Gelato Mill), along with the performance venue and conservatory. The facility is branded as The Machine Shop. In 2015, parts of the area were purchased by The Tech including The Yard (outdoor music venue) and The Yard Locker. Image gallery Notes References External links Pulp and paper companies of Canada Companies based in Sault Ste. Marie, Ontario Defunct pulp and paper companies History of the pulp and paper industry in Ontario Adaptive reuse of industrial structures in Canada