Global Sticks logs extensive creditor list
Bankrupt Thunder Bay-area novelty wood product plant currently up for sale
Global Sticks' statement of affairs confirms the company owes more than $15 million dollars — thousands of which are owed to its president.
CBC News obtained documents that show how much bankrupt Global Sticks owes and to whom. The creditors’ list includes financial institutions, timber and logging companies, various contractors, supply rental businesses and other services, as well as employees.
The Northern Lights Credit Union in Dryden is the biggest creditor and is owed about $4 million. Most of the creditors are in the Thunder Bay area; however the list stretches across Canada and the US and includes a wooden stick manufacturer in China.
The company also owes money to the provincial and federal governments and various agencies.
Company president Reggie Nukovic is owed $50,000, plus $118,000 through a numbered company.
Trustees in bankruptcy Grant Thornton have told CBC News they hope to sell the business assets as a ready-to-run, turnkey operation.