Farley Group Inc. Emerges from CCAA ProceedingsMarch 4th, 2013 | Category: Industry News
Farley Group Inc., formerly known as Farley WinDoor Ltd., announced today that it has successfully exited CCAA (Companies’ Creditors Arrangement Act ) proceedings. The Canadian window manufacturer said it went through an extensive restructuring which saw the consolidation of the company’s manufacturing facilities and its exit from the entry door market, which meant the closing of its Lévis, Quebec facility. All window and patio door products continue to be manufactured in two side-by-side facilities in Alexandria, Ontario. The refinancing proposal was approved by the court on February 27.
Sabrina Tessier, marketing manager, told DWM magazine that now that the restructuring is effectively complete and new financing is in place, we are in a position to focus on growing the business again.
“We are continuing on a new and healthy path,” she says. Tessier adds that customers have been extremely responsive.
“Our customer retention has been exceptional and customers have been incredibly open and understanding regarding all of the changes,” she says. “We have made a conscious effort to be open and present with all of our customers and they have really appreciated it. Our expectations for customer retention were far exceeded.”
As part of the restructuring the company also took a hard look at many of its models.
“In order to exploit our strengths and maximize economies of scale, we took a serious look at our production and transportation models, consolidated manufacturing activities and eliminated redundancies,” says company president Dominique Van Voorhis. “We received a number of strong refinancing proposals from various sources and are extremely pleased with the court’s decision.”
With its streamlined operations, the company says it is committed to focusing on delivering quality products within industry-leading lead times. The company manufactures full lines of PVC and aluminum-hybrid windows and patio doors under the Farley Windows & Doors, GreenView Windows & Doors and Bonneville Solutions brands.