JBT Group files NOI after TD Bank demands full repayment of debt

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Kitchener, Ont.-based JBT Transport and its affiliated companies have filed for creditor protection, after TD Bank demanded payment of $16.2 million in outstanding debt. The related companies include Waydom Management, […]

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[Sharon]

Kitchener, Ont.-based JBT Transport and its affiliated companies have filed for creditor protection, after TD Bank demanded payment of $16.2 million in outstanding debt. The related companies include Waydom Management, […]

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The public documents can be found on the Dodick & Associates website here: https://dodick.ca/public_documents/...management-inc-and-waydom-management-inc-col/

 

[Rob]

Kitchener, Ont.-based JBT Transport and its affiliated companies have filed for creditor protection, after TD Bank demanded payment of $16.2 million in outstanding debt. The related companies include Waydom Management, […]

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The banks are out calling in loans I think this is only the beginning. Pride scared the hell out of the banks.

 

[LrgCar]

The banks are out calling in loans I think this is only the beginning. Pride scared the hell out of the banks.

Banks are being extremely cautious, and I don’t blame them. This trend will only become more common. After Pride, I've been hearing that many lenders exited the commercial trucking sector due to the high risk. Meanwhile over here we have these "big players" who are using bank money to buy out competitors despite it being one of the worst markets I’ve seen in the past 20 years.