A group of investors hoping to buy idled Port Angeles, Washington plywood mill KPly, was still in negotiations with the Sterling Savings Bank of Tacoma in early April, even though the deadline for the purchase had passed, reports the Peninsula Daily News.

Josh Renshaw, a former KPly worker who is leading the effort to buy the mill, said he was still optimistic that it would re-open. Renshaw plans to operate the mill under its original name, Peninsula Plywood, with 172 workers.

KPly has been closed since November 2007 and its 132 workers were permanently laid off in April 2008.