Woodworkers at the financially troubled IKEA furniture supplier say they would be opposed to accepting wage and benefit concessions if the plant is purchased at auction next month.
DARTMOUTH, NOVA SCOTIA -- Scanwood Canada Ltd., a manufacturer of ready-to-assemble furniture for IKEA, shut down operations last month and is making arrangements to liquidate its assets, including machinery and inventories.
DARTMOUTH, NOVA SCOTIA -- Scanwood Canada Ltd., which last month was declared financially insolvent, recently got a court OK to borrow $1 million to continue its restructuring plan.
Last week's news report about Scanwood Canada's slide into financial insolvency is the latest reminder that selling to big box stores - IKEA, in this case - has its pluses and minuses.