JMX Contracting Inc. Announces Emergence From Restructuring Proceeding
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UXBRIDGE, Ontario--(BUSINESS WIRE)-- JMX Contracting Inc. announced today that it has emerged from restructuring proceedings commenced last year. Together with its affiliates, JMX Leasing Inc. and BRND Properties Inc., JMX exited the proceedings with renewed opportunity for growth.
Established in 2004, JMX is a leader in demolition and environmental abatement with commercial, industrial, and institutional projects across Canada. JMX provides innovative and flexible solutions for environmental abatement and asset recovery from projects with a focus on safe, efficient, and cost-effective service.
JMX commenced restructuring proceedings in April 2020 as a result of disruptions caused by the COVID-19 pandemic and associated cash flow challenges. With the assistance of restructuring lawyers, Weisz Fell Kour LLP, JMX dealt quickly with its secure debt and implemented a corporate reorganization.
“It has been a long 10 months, but we were able to work out the company’s pressure points and emerge on the other side,” said Charlie Dahl, CEO. “The restructuring allowed us to undertake a change in management and we have successfully right sized our operations. We are signing new contracts every week and our pipeline of projects is growing quickly.”
Mr. Dahl continues as CEO of the restructured JMX and will continue working directly with project owners and general contractors. Mr. Dahl is the former President and Chair of the Ontario Association of Demolition Contractors and has 30 years of experience in the industry.
“We are grateful to our partners,” said Mr. Dahl, “especially our employees, project owners and subcontractors who shared our conviction that JMX is a company worth saving and who stood by us all the way. The future is bright for JMX.”
Charlie Dahl – Chief Executive Officer
JMX Contracting Inc.
Source: JMX Contracting Inc.
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