Thunder Bay

Finlandia Association of Thunder Bay could decide to dissolve, liquidate assets at meeting Wednesday

One of the best known landmarks in Thunder Bay, Ont., could be no more.
The Finlandia Hall, which houses the Hoito restaurant, in Thunder Bay, Ont., is dealing with financial issues. The board, which runs the facility, will host a special meeting on Wednesday night to discuss winding up the operation. (Amy Hadley/CBC)

One of the best known landmarks in Thunder Bay, Ont., could be no more.

The Finlandia Association of Thunder Bay will hold a Special General Meeting on Wednesday night, to potentially look at winding up the group's operations.

The association owns and operates the Finlandia Hall and Hoito Restaurant on Bay Street.

A resolution, provided to the membership states, "the Corporation be voluntarily wound up pursuant to the provisions of section 230, and sections 253 to 265 of the Corporations Act;" and goes on to note that Grant Thornton Limited would be appointed as the liquidator of the corporation.

Two of the board's directors, Kevin Vesa, who serves at the vice-president, and Derek Parks would be appointed as inspectors in the proceedings, to approve any compromise made by the liquidator with debtors and creditors.

The association found itself in financial troubles in 2015, at that time noting it has $700,000 of debt.

A crowdfunding campaign at the time raised about $15,000 and the board also sold off a neighbouring building, the former Kivela Bakery.

The Finnish Labour Temple, or Finlandia Hall, is on the City of Thunder Bay's heritage registry, and is also designated as a National Historic Site of Canada by the Directory of Federal Heritage Designations.

A director on the Finlandia Association of Thunder Bay board told CBC News details on any plan moving forward would be communicated after the meeting on Wednesday night.

About the Author

Jeff Walters

Reporter/Editor

Born and raised in Thunder Bay, Jeff is proud to work in his hometown, as well as throughout northwestern Ontario. Away from work, you can find him skiing (on water or snow), curling, out at the lake or flying.