Saskatoon-based Morris Industries has been granted creditor protection.
The company told a Saskatoon court today (Fri), that its ambitious growth strategy failed, and it doesn’t have enough money to pay its debts and continue operations.
According to documents, Morris’ expensive growth strategy allowed it to introduce new products, but was derailed by unforeseen warranty issues, as well as slumping sales due to trade wars and poor weather.
The plan under creditor protection could include consolidating its manufacturing operations into a single facility, in either Yorkton or Minnedosa.