“San Group to Sell Assets in Effort to Repay $150 Million Debt”

San Group is in the process of liquidating many of its valuable assets, such as sawmills and the manufacturing plant in Port Alberni, as part of efforts to settle over $150 million in outstanding debts. This decision follows a ruling from the British Columbia Supreme Court, which extended the company’s creditor protection until the end of May. Deloitte Restructuring Inc. is managing the sale, aiming to maximize the value of the assets and ensure fair repayment to creditors. The transaction will exclude certain assets, including the Acorn mill and claims associated with Canadian Western Bank. This sale is critical to the company’s financial recovery, with completion expected by the end of June 2025.