The BC Tree Fruits Cooperative (BCTFC) has filed for creditor protection.
 
A media release from the BCTFC states that on Aug. 26, the CIBC issued a demand for repayment and notices under the Bankruptcy and Insolvency Act for debt currently due and owing. The demand also applies to BCTFC subsidiaries Growers Supply Company Limited and BC Tree Fruits Industries Limited.

The BCTFC filed for creditor protection on Aug. 12 and an initial hearing is scheduled for Aug. 13 when the company will seek a stay of all proceedings and remedies against BCTFC for 10 days.

An appointment of court appointed officer (monitor) of BCTFC, the approval of interim financing, and scheduling of another hearing (Aug. 23) will also be requested. At that hearing the BCTFC will seek approval of a sale of assets. 

香蕉视频直播淭he decision to file for creditor protection stems from BCTFC香蕉视频直播檚 current liquidity crisis,香蕉视频直播� the statement reads. 

It also cites several factors that led to the crisis including decreasing tree fruit volumes, an increase in local packing house competition, aging facilities and equipment, market pricing pressures locally and from Washington State, a reduction in contracted growers/members, and impacts from a changing climate.

According to the BCTFC statement, a 2022 consolidation plan to modernize equipment and divest aging properties, meant to increase efficiencies and reduce overhead costs, was met with attempts to block property sales, make board changes, or change board governance.

香蕉视频直播淭hese disruptions delayed the planned property sales and the timing of equipment installation, which reduced the potential grower returns for the 2023 and 2024 crop.香蕉视频直播� 

Severe weather in 2024 resulted in an approximately 90 per cent reduction in cherries and all other stone fruits were reduced to zero, the statement said.

Apple crop numbers showed about a 50 per cent reduction in projected volumes from 2023 levels, significantly less than expected. 

香蕉视频直播淭he low projected apple volumes were somewhat due to weather impacts but were strongly driven by grower discord,香蕉视频直播� according to the BCTFC.

The BCTFC announced on July 26 that it was shutting down stating it was done to allow growers to find other avenues to pack and market their fruit.

On Aug. 2, the City of Kelowna announced an agreement with Sandher Fruit Packers to assist some growers in getting their produce to market.

The deal included the city temporarily accepting wastewater from Sandher香蕉视频直播檚 facility on Old Vernon Road. Residents living near that facility have complained that the wastewater, which contains chemicals used to wash fruit, is negatively affecting the surrounding environment.

Sandher has been fined several times by the province and insists it is working on a permanent solution to the wastewater.