About 160 employees remain at work while the courts decide the fate of the business.
It was started by Nathan Woodworth who was president until it filed for protection from its creditors. He is the son of a controversial and defeated Conservative MP Stephen Woodworth who angered Prime Minister Stephen Harper by trying to revive the abortion issue.
The business expanded aggressively, taking over a huge factory in south-western Kitchener that once housed Lear Siegler and produced car seating.
Trichome Financial is giving JWC up to $4-million in financing as part of a debtor in possession loan. It's also planning to purchase JWC's assets, according to James E. Wagner Cultivation.
Tricholme Financial and Land Global Macro Fund have secured loans of $11.4 million and unsecured creditors are owed $7.9 million. Tricholme has made a bid of $11.7 million to take over the company.
Tricholme Financial and Land Global Macro Fund have secured loans of $11.4 million and unsecured creditors are owed $7.9 million. Tricholme has made a bid of $11.7 million to take over the company.
