Farley Group Exits CCAA Proceedings, Completes Restructuring
March 4, 2013
Farley Group Inc., formerly known as Farley WinDoor Ltd., has successfully exited CCAA proceedings. After an extensive restructuring that saw the consolidation of the company’s manufacturing facilities and its exit from the entry door market, Farley’s refinancing proposal was approved by the court on February 27th, 2013. The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs.
“In order to exploit our strengths and maximize economies of scale, we took a serious look at our production and transportation models, consolidated manufacturing activities, and eliminated redundancies,” says Dominique Van Voorhis, president. “We received a number of strong refinancing proposals from various sources and are extremely pleased with the court’s decision.”
One of Canada's largest fenestration manufacturers, Farley Group manufactures full lines of PVC and aluminum-hybrid windows and patio doors under the Farley Windows & Doors, GreenView Windows & Doors and Bonneville Solutions brands.