Dec. 4, 2012 – Farley Windows and Doors has received protection from its creditors under the Companies Creditors Arrangement Act (CCAA) in a court order dated Nov. 30. The order suspends Farley's obligations to pay employees and suppliers until Jan. 11, 2013.
Dec. 4, 2012 – Farley Windows and Doors has received protection from its
creditors under the Companies Creditors Arrangement Act (CCAA) in a court
order dated Nov. 30. The order suspends Farley's obligations to pay
employees and suppliers until Jan. 11, 2013.
The Alexandria, Ont.-based vinyl window and door fabricator and its U.S. subsidiary will retain all assets and bank accounts. It's operating lines of credit are capped, and no new loans may be taken out. It must continue to pay rent and taxes, but not interest on principle. Farley can sell off real estate and assets to raise funds, or pursue the refinancing and/or sale of the company to a third party. It may maintain all normal operations during the protection period.
Calls to Farley were not answered.
Related links
www.farleywindows.com
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