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Auction's jumble * Canada - Replaces machinery's rumble
Financiers have lost confidence in B.C.'s forestry sector
Chemainus,B.C.,CAN -The Globe and Mail, by BRENNN CLARKE -September 23, 2008: -- In a scene that has become all too familiar in Vancouver Island's struggling forestry sector, the leftover assets of Ted Leroy's once-thriving trucking company rolled off the auction block in Chemainus yesterday... One of Vancouver Island's largest independent logging contractors, with about 500 employees, Ted Leroy Trucking was forced to file for bankruptcy protection last December when the Royal Bank of Canada demanded the company repay $18-million in loans... Retired forestry executive Bob Larter, Madill's vice-president of marketing until the company's demise last spring, said financiers have lost confidence in B.C.'s forestry sector...
Labels: trucking bankruptcy
posted by Unknown @ 3:46 PM
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