On Thursday, Teal Jones filed a petition for creditor protection at the B.C. Supreme Court.
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
Bc Forestry Bc Logging Canada Economy Environment
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TELUS CUP: Sydney Mitsubishi Rush still searching for first win, downed by Markham Waxers on ThursdayExplore stories from Atlantic Canada.
Read more »
TELUS CUP: Sydney Mitsubishi Rush still searching for first win, downed by Markham Waxers on ThursdayExplore stories from Atlantic Canada.
Read more »
Telus Cup action continues Thursday in MembertouExplore stories from Atlantic Canada.
Read more »
Prince George Citizen's Throwback Thursday: Week of April 25Have a look at what was going on back in the day during the week of April 25 using the Prince George Citizen archives to offer these tidbits of history.
Read more »
Market movers: Stocks seeing action on ThursdayA survey of North American equities heading in both directions
Read more »
Off to a sunny day in Ottawa, here’s how it feels ThursdayThe capital is set to have a sunny day with mild temperatures this Thursday.
Read more »