Carol Wabush Co-op closing, more layoffs in Lab West as a result. Co-op Group initiates proceedings under the Companies' Creditors Arrangement Act (CCAA) with KPMG appointed as Monitor.

In another round of bad news for Lab West it was recently announced that the Carol Wabush Co-op grocery store is closing.

This is one of four corporately owned stores in Atlantic Canada closing its doors and does not affect the 49 Co-op member stores, most of whom now use Sobeys as their wholesaler.

The Co-op Group has successfully obtained an order from the Court of Queen’s Bench of New Brunswick initiating proceedings under the Companies’ Creditors Arrangement Act (CCAA) with KPMG appointed as Monitor.

This is the latest in a string of bad news for those living and working in Lab West and there is no doubt there are people wondering what to do next as the bills continue to come due.

If you’re in Lab West, Labrador City or Wabush, and are wondering what options are available to you for dealing with your debt contact Sean to discuss your options. We can talk about whether bankruptcy or a consumer proposal is right for you. Email sean@srstack.ca or call toll free 1-844-610-5500.

For more information here is the article from CBC.ca