Quesnel Investment Corporation makes offer for C&C Wood Products
PricewaterhouseCoopers (PwC), the court appointed receiver of C&C Wood Products in Quesnel, B.C., has received an offer from Quesnel Investment Corporation to purchase and operate C&C Wood Products’ specialty mill and Westside Logging. PwC is recommending that the court accept the offer, reports My Cariboo Now.
PwC’s report to the court outlines that they entered into two purchase agreements with Quesnel Investment Corporation on July 20, 2020. The purchase agreements were for non-license assets including property and the specialty mill along with its equipment and inventory. The second purchase agreement is for the license assets of both companies.
C&C Wood Products filed for bankruptcy on June 2, putting more than 200 local, full-time jobs in limbo. Operations had stopped at the specialty mill on May 29.
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