PLEASE SHARE – STORE-WIDE CLEARANCE – BANKRUPTCY IS 50/50 – https://t.co/goCmnkEdZW
— KredlsCornerMarket (@KredlsMarket) December 13, 2016
Things are looking grim at Kredl’s in Hampton.
It’s owner says they will be in court on Friday because they are being forced into bankruptcy after two agencies, Opporotunities NB and Farm Credit Canada, didn’t deliver on promises to keep the company going.
Owner Dave Wolpin says he was looking for a repayable loan he was promised not a handout adding he wants this to make Christmas bright for their workers and their families and the local community.
Wolpin says the province is not living up to a committment they made to Kredl’s in October.
The release says Kredl’s went through a successful reorganization to ensure it’s future where Farm Credit Canada accepted a proposal from Kredl’s to ensure it received the maximum return on its investment.
Wolpin says by forcing the company into bankruptcy, the federal Crown corporation will now receive much lower return for the taxpayers.
He says the bankruptcy filing goes ahead on Friday and Kredl’s will be closing its doors for good shortly thereafter unless the commitments made to them previously are respected.
A closure would impact 70 workers and some local farmers.
