Black Press restructures
By Derek Winkler
Black Press of Surrey, BC has undertaken a corporate restructuring of its finances by obtaining an order under the Companies' Creditors Arrangement Act from the Supreme Court of British Columbia. These activities will be overseen by Canso Investment Counsel and KSV Restructuring. The company also announced that it intends to seek court approval to launch a sale and investment solicitation process for its business and assets.
In related news, David Black, president and majority owner of Black Press, is retiring from the company. Black founded the company in 1975 with the purchase of The Williams Lake Tribune. Black Press publishes 150 daily and weekly newspapers and magazines in western Canada and the United States.
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