Terrace Bay Pulp hasn't reopened yet... but soon!

Terrace Bay Pulp is still putting the pieces together so that they can except from creditor protection and restart their idled mill.

Right now, the company is aiming to emerge from their protection period between September 5 to 10.

The company is working with a new lender so they can receive an asset backed loan that will provide them with operational funding to restart the mill.

Terrace Bay Pulp recently dropped the lender they had been working with over the last 2 months because it looked like that lender would cause the company further delays.

The Superior Court of Justice has given the company an extension of their creditor protection period - until September 17.

Sixty employees are back at work in Terrace Bay already, with another 400 workers ready to receive their callback notice in the next two weeks.

Read more:

Terrace Bay Pulp closes in on funding from lender (The Chronicle Journal)