{"id":88465,"date":"2025-01-21T05:59:33","date_gmt":"2025-01-21T05:59:33","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/san-groups-port-alberni-sawmills-and-manufacturing-plant-to-be-sold-under-court-order\/"},"modified":"2025-09-18T17:29:38","modified_gmt":"2025-09-18T17:29:38","slug":"san-groups-port-alberni-sawmills-and-manufacturing-plant-to-be-sold-under-court-order","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/san-groups-port-alberni-sawmills-and-manufacturing-plant-to-be-sold-under-court-order\/","title":{"rendered":"San Group\u2019s Port Alberni sawmills and manufacturing plant to be sold under court order"},"content":{"rendered":"<p><span id=\"more-37129\"><\/span>Most of San Group\u2019s assets, including its sawmills and manufacturing plant in Port Alberni, will be sold to repay over $150 million in debts to creditors. This decision comes after a ruling from the British Columbia Supreme Court, which also extended the company's protection from creditors until May 30.<\/p>\n<p>Deloitte Restructuring Inc., the court-appointed monitor, is overseeing the sale process, which aims to maximize the value of the assets and ensure fair repayment to creditors. The company will divide San Group's assets into different offerings and compile a list of potential buyers. The monitor is working to complete agreements with prospective buyers by May 30, with court approval expected by June 16 and closing dates no later than June 30.<\/p>\n<p>The sale will include all assets except for a few, such as the leased Acorn mill and manufacturing plant in Delta, which is currently tied up in an insurance claim related to a fire, and certain other assets tied to claims from Canadian Western Bank.<\/p>\n<p>San Group, based in Langley, filed for creditor protection on November 29, 2024. At the time, the company disclosed owing $110 million to the Royal Bank of Canada and $40 million to the Business Development Bank of Canada. The list of creditors extends into the hundreds.<\/p>\n<p>Although the company\u2019s owners have been largely cooperative, the monitor reported that they have requested more accurate and timely information from the San Group. Additionally, the company\u2019s cash flow results from the four-week period ending January 10 came in well below expectations, with sales of $587,029 instead of the forecasted $1.126 million.<\/p>\n<p>The company had also made headlines when it claimed that logs worth $6 million had disappeared in a storm off Vancouver Island in November. However, investigations have raised doubts about the existence of the logs, and the monitor has decided to stop further inquiries on the matter.<\/p>\n<p>The sale process marks a critical point in San Group\u2019s efforts to recover from its financial troubles, with the company\u2019s future hinging on the outcome of these transactions.<\/p>","protected":false},"excerpt":{"rendered":"<p>Most of San Group\u2019s assets, including its sawmills and manufacturing plant in Port Alberni, will be sold to repay over $150 million in debts to creditors. This decision comes after a ruling from the British Columbia Supreme Court, which also &hellip; <a href=\"https:\/\/www.timberindustrynews.com\/ro\/san-groups-port-alberni-sawmills-and-manufacturing-plant-to-be-sold-under-court-order\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":96432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-88465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends","topic-forestry","topic-lumber","topic-sawmilling","topic-wood-products","area-global","area-north-america"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Group\u2019s Port Alberni sawmills and manufacturing plant to be sold under court order - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/san-groups-port-alberni-sawmills-and-manufacturing-plant-to-be-sold-under-court-order\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Group\u2019s Port Alberni sawmills and manufacturing plant to be sold under court order - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Most of San Group\u2019s assets, including its sawmills and manufacturing plant in Port Alberni, will be sold to repay over $150 million in debts to creditors. 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