Records produced by the Office of the Superintendent of Bankruptcy Canada show two Buchanan-owned mills in Thunder Bay are on the hook for tens of millions of dollars.
The documents, acquired by Dougall Media, show that Great West Timber lists debts of $31 million and assets of just $8 million.
Northern Hardwood owes $33.7 million and lists assets of $6 million.
All figures were provided to the government agency by the debtor, which is being represented in the bankruptcy case by Grant Thornton Limited.
The first meeting of creditors for both companies is scheduled for Jan. 24.
Earlier this month Buchanan revealed it was seeking bankruptcy protection for the two companies. Two others, Atikokan Forest Products and North Sawmills, were put into receivership.
The documents, acquired by Dougall Media, show that Great West Timber lists debts of $31 million and assets of just $8 million.
Northern Hardwood owes $33.7 million and lists assets of $6 million.
All figures were provided to the government agency by the debtor, which is being represented in the bankruptcy case by Grant Thornton Limited.
The first meeting of creditors for both companies is scheduled for Jan. 24.
Earlier this month Buchanan revealed it was seeking bankruptcy protection for the two companies. Two others, Atikokan Forest Products and North Sawmills, were put into receivership.
