Officials with the Buchanan Group are declining comment on reports the company's troubled Terrace Bay pulp mill is about to enter CCAA protection.
Several sources along the North Shore with ties to the mill say the move is imminent. It's believed an application for court protection from creditors is likely to happen before the end of the week.
The reports are further supported by US industry website www.risi.com that says word of the filing is contained in a letter from Buchanan to its major customers. Such a move would protect Buchanan from financial obligations to employees and a long list of creditors.
