PricewaterhouseCoopers says C&C Wood Products and Westside Logging Ltd. has filed for bankruptcy pursuant to section 49 of the Bankruptcy and Insolvency Act.
While it was made official today, it actually happened back on June 2nd.
PricewaterhouseCoopers was then appointed Receiver of all the assets, undertakings, and property of the company by the Supreme Court of British Columbia on Friday. (June 5)
In its capacity as court-appointed receiver, PwC will be looking at all options to maximize recoveries including a potential sale of the business.
C&C Wood Products shut down back on May 29th putting the fate of up to 150 employees up in the air.
The specialty mill, located on Quesnel-Hixon Road, had been in operation since 1975.
Quesnel Mayor Bob Simpson says work is underway behind the scenes to try to save the specialty mill and the logging operation that it runs.
-With files from George Henderson, MyCaribooNow.
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