The company at the centre of the Fairy Creek logging protests on Vancouver Island several years ago is in trouble. As Julia Foy reports, the B.C. based company Teal Jones is bleeding money and is facing an uncertain future.The company at the centre of the Fairy Creek logging protests on Vancouver Island several years ago appears to be in trouble.On Thursday, Teal Jones filed a petition for creditor protection to the B.C. Supreme Court, revealing how hard it has become to balance the books.
“…the petitioners began facing significant liquidity challenges in 2023 due to external market factors and can no longer continue to meet their obligations as they become due,” the petition said.“Teal Jones is a major and important forestry company in B.C. and it also has operations in several American states,” Ralston told Global News. “The purpose of the court application is to hold off the creditor actions until they can readjust some of their internal revenue sources.”A B.C.
The company dealt with a significant challenge in the past when environmental protesters caused disruptions to its logging operations near the Fairy Creek watershed. As part of the restructuring plan, stated in the court petition, Teal Jones is proposing to sell one of its mills in the U.S. and some forest land in Haida Gwaii.Downtown Vancouver Hudson’s Bay faces ongoing challenges
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