Edmonton Recycling Company Goes Broke, Despite Taxpayer SupportEdmonton Recycling Company Goes Broke, Despite Taxpayer Support
February 22, 2016
Mayor Don Iveson says the city made sure to limit its risk in Greys Paper Recycling, which has now filed for bankruptcy.
Over a five-year period, the city had invested $9.4 million in land, buildings and equipment leased to the company, which Iveson says can now be repurposed.
“However, if the bankruptcy trustees and the courts see fit to permit a restructure, and another business entity to try to get the technology to the finish line, we’d be thrilled to see that happen, as far as I’m concerned,” remarked Iveson.