SHERBROOKE, QUE – Canadian furniture maker Shermag Inc. said that a Quebec court has extended its creditor protection status to allow it to develop a plan of arrangement to propose to its creditors, according to Reuters. The company has been under court protection since May, and the new order extends the stay of proceedings against it and its subsidiaries until Dec. 10.
The company said the extension will give it time to file its plan of arrangement and hold a meeting with its creditors.
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