GBO Suspends Operations, Bonneville Solutions Unaffected
After suspending operations last week, GBO Inc., manufacturer of Bonneville wood windows and doors, reports that is filing for bankruptcy with plans to put forward a restructuring proposal. Meanwhile, the management of Bonneville Solutions is emphasizing that it is a separate business and its door and window operations are unaffected.
GBO's decision to suspend operations was the result of liquidity issues at the Quebec-based company, which curtailed its ability to purchase the raw materials required to fulfill orders, officials report. Furthermore, all GBO directors except for Christopher Wood, the chairman and CEO, have resigned from the board of directors effective immediately, it is reported.
Officials at the wood window manufacturer now state they are working on a proposal setting out the terms to restructure its debts and other obligations to its creditors. "The company hopes to be in a position to quickly resume operations to satisfy its customers' orders," a press release notes. "Suppliers of the company for goods and services provided after the filing of the notice of intention will be paid in the normal course of business."
At Bonneville Solutions, Dominique Van Voorhis, president, reports that the similar trade names of the two companies have created confusion with customers. “Bonneville Solutions manufactures PVC, steel and fiberglass products and is a division of Farley WinDoor Ltd. since the acquisition that occurred in 2009," he states. "Bonneville Solutions is completely independent from Bonneville Windows & Doors (GBO) which manufactures, for its part, wood windows and doors. The financial problems of Bonneville Windows & Doors have therefore nothing to do with our company, which instead enjoys a sound financial basis. We can assure you that all existing and new orders will be produced and delivered as expected.”
As part of Farley, Bonneville Solutions operates a door plant in Lévis, Que., and a window plant in Saint-Joseph-de-Beauce, Que. GBO had manufactured Bonneville wood products in Saint-Joseph-de-Beauce as well.