Carollion Road Maintenance

Lets hope Mr. Niivila and the other firewood trucks can get through so noone freezes eh? ... Well i shouldnt say that... Its more the highway hanks to be worried about

 

They do Alberta roads also.
Just took a load of salt to Camrose last week. Hope we get paid.

 

The MTO is probably going to lease everything until spring and then let them go.

 

They're not even a Canadian owned company. I hope the employees find new jobs quickly though.

 

Of course there will be an impact, but the Canadian operations are a separate corporate entity from the UK parent, which is declaring bankruptcy. In a case like this they don't just disappear, although anyone with a financial stake is most definitely screwed.

PricewaterhouseCoopers (PwC) is managing the wind-down in the UK, and I expect the Canadian division of PwC will likewise be involved. In the case of maintenance, because the province is the customer, I don't think there will be a problem getting paid. In fact, for essential services under bankruptcy there are some special rules that come into play regarding future supply and service.

A call to your own accountant and/or lawyer may be in order though... just to get clarity.

 

Yes, I heard today on the news that Canadian operations are not affected. Usually these multinational corporations run each company as separate entities, so on its own the Canada division may survive initially. However, as the parent company is liquidated, individual divisions will be sold off.