Deadline Extended Again for AbitibiBowater

Tuesday, March 31, 2009 03:52 AM

Prince George, B.C.- AbitibiBowater has extended a debt restructuring loan for the 5^th time.

The deadline is now 11:59 p.m EDT tonight to restructure the $1.8 billion of debt for the Bowater unit.

AbitibiBowater has been in talks with debt holders to refinance portions of its $6 billion debt, which has threatened to push the company into bankruptcy.

It has shut down some operations, including those in Mackenzie, to cope with declining demand.

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Posted on Tuesday, March 31, 2009 03:52 AM in News by 250 News

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Comments

Posted by: northman on March 31 2009 7:37 AM

Pope & Talbot deja vu.

Posted by: He speaks on March 31 2009 9:51 AM

Well, thats having teeth in the system. five times, come on, if it was a small business it would have been done in by the third time. Get real folks. Let them go broke and the timber tenure goes back to the province. Then we can get something happening again in Mackenzie.

Posted by: Windigo on March 31 2009 10:19 AM

This is a joke....I agree with you "He speaks" let this sorry excuse for a Corporate citizen go broke and allow another company that wants to run a business in the province take over.