Close to 100 creditors are lining up now that Grew Manufacturing is in receivership.
The company on highway 6 and 10 just south of Owen Sound has been idled for three months, since the death of the President David Cameron.
Bill Courage at BDO Canada in Owen Sound says the Business Development Bank of Canada was granted the right to put the business in receivership, as it’s largest creditor.
Courage says the company has liabilities of close to 3 million dollars.
He doesn’t know what the company will sell for, but Courage is hoping a boat building company will put in an acceptable bid and some of the jobs the factory can be restored.
There are about 25 employees who are owed wages, vacation pay, severance and termination pay.
Grew manufacturing will soon be put on the open market, but Courage says it will likely be several months before a deal is finalized.
