News Formal

B.C. forestry company Teal Jones battling bankruptcy

  • 📰 timescolonist
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 75%

Italia Notizia Notizia

Italia Ultime Notizie,Italia Notizie

Low lumber prices, inflation, interest rates puts Surrey company in the red

The company filed for creditor protection on Friday under the Companies’ Creditors Arrangement Act and, since it owns mills in the U.S., will also be filing for Chapter 15 protection in the U.S. under the U.S. Bankruptcy Code.

In the first two months of 2024, the company said costs exceeded sales, resulting in a $4 million loss. The company also noted in a report by its monitor, PwC, that “a costly protracted demonstration at the logging site of one of forest licences" cost the company $40 million.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 15. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Teal Jones forestry company files for creditor protection in B.C.On Thursday, Teal Jones filed a petition for creditor protection at the B.C. Supreme Court.
Fonte: GlobalCalgary - 🏆 50. / 61 Leggi di più »

B.C. forestry company Teal Jones battling bankruptcyLow lumber prices, inflation, interest rates puts Surrey company in the red.
Fonte: BurnabyNOW_News - 🏆 14. / 77 Leggi di più »

Forestry company Teal Jones files for creditor protection in B.C. courtBusiness says it no longer has the money to cover operational costs, pay back creditors
Fonte: TerraceStandard - 🏆 24. / 68 Leggi di più »