Unable to replenish its coffers, the manufacturer of electric snowmobiles and watercraft Taiga is protecting itself from its creditors and putting itself up for sale.
The young Quebec company, which has turned to the Companies’ Creditors Arrangement Act (LACC), was able to obtain interim financing of $4.4 million from Export Development Canada (EDC), its largest secured creditor.
This amount will allow the company to continue its activities during the sale and investment solicitation process.
More details to come.