From CNN business, via Covington Connected: The “immense disruption of the Covid-19 pandemic” is blamed for the action. Actually, it may serve better as an excuse for incredibly stupid over-expansion for too many years.
They are trying to restructure their debts with assistance from the Canadian government and private equity firms. The movie is seen as a necessary "starting point in an auction to draw other bidders.”
No where is mention made of Canadian billionaire Guy Liberate, founder and recent figure wanting to get back into the mix and take charge. If he really does, how many of his own Big Bucks (net worth, $1.8 billion) might he be willing to throw in as a show of good faith?
They are trying to restructure their debts with assistance from the Canadian government and private equity firms. The movie is seen as a necessary "starting point in an auction to draw other bidders.”
No where is mention made of Canadian billionaire Guy Liberate, founder and recent figure wanting to get back into the mix and take charge. If he really does, how many of his own Big Bucks (net worth, $1.8 billion) might he be willing to throw in as a show of good faith?
Don't hold your breath.
.
Actually, it was Laliberte himself who engineered the early creation of multiple units, many of which went no where. And the going nowhere should have given them reason to pause and pull back over the last 10 years, but they could not stop themselves, and are now stuck in a big black hole of their own making.
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