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New Skeena on receiving end

Repeated failures to secure financial backing have landed New Skeena Forest Products into forced receivership. Desp…

Repeated failures to secure financial backing have landed New Skeena Forest Products into forced receivership. Despite countless efforts made by president Daniel Veniez to pin down a solid investor, the pulp and lumber mill will now start to be divested of its assets.

The operation has been losing money for years and owed $22 million to the town of Prince Rupert in back taxes. It would have cost approximately $50 million to restore the mill to operational status.