San Group Files for Creditor Protection, Company Monitored by Court

  • 📰 timescolonist
  • ⏱ Reading Time:
  • 6 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 75%

Business Nieuws

San Group,Creditor Protection,Sawmills

The San Group, facing creditor claims totaling over $100 million and a log shortage, has filed for creditor protection and laid off employees. A court-appointed monitor is overseeing the company's restructuring, with the goal of a court-supervised sale process.

A court-appointed monitor is overseeing the San Group of companies after the Langley-based firm filed for creditor protection. The San Group, which runs two sawmills and a remanufacturing plant in Port Alberni, has laid off employees and reduced operations due to a shortage of logs, with creditors claiming to be owed more than $100 million. The city of Port Alberni has activated a community transition team to support affected workers. Deloitte Restructuring Inc.

was appointed monitor, and the company aims to seek approval for a court-supervised sale process

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 15. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines