Skeena Sawmills Ltd., Skeena Bioenergy Ltd. and ROC Holdings Inc., Vancouver, British Columbia-based producers and sellers of timber, lumber and other wood products, were placed into receivership on September 20, 2023, on application by 1392752 B.C. Ltd., owed over $135 million. The companies were adversely affected by high operating costs, poor market conditions, insufficient funding and the increasing cost of materials.

Alvarez & Marsal Canada Inc. was appointed by the Supreme Court of British Columbia as Receiver and initiated a court-approved sale and investment solicitation process to find a buyer for Skeena’s assets.