Snowbear Demonstration: Monday April 23 at 11 a.m. in Toronto
April 10, 2012, 1:35 PM EST
Snowbear, the largest Canadian manufacturer of utility trailers and snowplows, has since the fall of 2011 shut down production and issued layoff notices to members of CAW Local 1917.
The Catalyst Capital Group, secured lenders to Snowbear obtained a court appointed receiver for the purpose of selling the assets of the company, which is located in Guelph, Ontario. CAW members who worked at Snowbear are owed approximately $500,000 in severance.
The Catalyst Capital Group is a private equity investment firm located in downtown Toronto, which has billions in assets under management.
The CAW has been calling for a meeting with Catalyst founder and managing partner Newton Glassman to no avail.
As a result a demonstration has been called for Monday, April 23 at 11 a.m. outside the offices of Catalyst Capital Group Inc, Royal Trust Tower, TD Bank Centre, 777 King Street West, (King and Bay) in Toronto.