B.C. forestry company Teal Jones battling bankruptcy

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.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

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.
แหล่ง: GlobalCalgary - 🏆 50. / 61 อ่านเพิ่มเติม »

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

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
แหล่ง: TerraceStandard - 🏆 24. / 68 อ่านเพิ่มเติม »