Canadian News

Canfor extending production curtailments in BC

Canfor Corp. is extending its sawmill curtailments in British Columbia due to ongoing weak market conditions and the lack of available economic fiber. The production capacity will be reduced through two-week curtailment extensions in January at select solid wood facilities in B.C. This will remove approximately 21 million board feet in addition to the 150 million board feet previously announced on December 5, 2022. The company said it plans to continue to adjust operating rates to align with market conditions and the available supply of economically viable timber.

Woodworking Industry News

Creditors owed $99.5M by United Furniture; seek to force shuttered company into bankruptcy

TUPELO., Miss. — Creditors are seeking to recoup nearly $100 million from United Furniture Industries, and one of its largest creditors — banking giant Wells Fargo — is pushing the company into an involuntary Chapter 7 bankruptcy filing. In addition to Wells Fargo,the petition also names two other creditors — Security Associates of Mississippi/Alabama and V&B international — as being owed money. In total, United owes more than $99.5 million, excluding interest, fees and expenses, to the three creditors alone.