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Article Date: September 2020
Word Count: 382

MEC Opposes Efforts to Find Alternative Funding


Responding to the Save MEC campaign looking to head off a sale to American investor Kingswood Capital, the coop said in its court filing that the sale must take place quickly in order to protect the interests of the employees and allow the new owner to take advantage of the Holiday selling season. The plan offered by Save MEC doesn’t involve “concrete commitments or realistic options.” Further, it said closing the deal is urgent to forestall weekly cash flow losses.

 

Save MEC has raised roughly C$100,000 from 2,400 members out of 5.8 million and proposes selling real estate, obtaining new loans ... Log in to view full article.

 


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