Talks Continue To Sell Blenheim PlantNovember 10, 2017 11:42am
Cross Country Manufaturing has no intention of closing its Blenheim plant.
That’s the word from plant manager Dave Dyck in a written statement provided to Blackburn News Friday morning.
Dyck says Cross Country “is presently working towards completion of a sale of the Blenheim plant,” adding that “Cross Country is neither bankrupt nor in receivership.”
He says the company “is restructuring its business affairs in an orderly manner,” but didn’t provide any further details.
As previously reported by Blackburn News, the trustee selling the company says the sale could close as early as mid-November and hopes to have “an unconditional offer to present to the court for final approval before December 4.”
Cross Country has a $3.5-million line of credit with the Bank of Montreal that is expected to run out later this month. It also owes dozens of other creditors millions of dollars.