Harbour Grace shipyard owners try to assure creditors, customers as workers brace for the worst
The owners of a busy shipyard in Harbour Grace are trying to assure creditors as they scramble to save a big employer in Conception Bay North. Meanwhile, dozens of workers are bracing as their jobs hang in the balance. “I got a mortgage. I got vehicle payments. I got two small children at home. A wife. There’s a lot at stake,” electrician’s helper Jake St. George said this week during his lunch break at Harbour Grace Ocean Enterprises. The shipyard has fallen on hard financial times, and a list of creditors owed nearly $16 million have been demanding their money. So in a bid to salvage the business and restructure the operation in order to avoid bankruptcy, the company was granted temporary protection from its creditors last week by the Supreme Court of Newfoundland and Labrador. >>click to read<< 16:42
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