Edmonton based moving company closes doors resulting from factors such as delayed pipeline expansion, terror attack and low oil prices

I am with heavy heart and regret informing you that as of 5:15 this afternoon Canadian Relocation Specialists and myself personally have, after much discussion with financial consultants have entered into the first stages of Bankruptcy.
By: My World News
 
 
Canadian Relocation Specialists Edmonton
Canadian Relocation Specialists Edmonton
EDMONTON, Alberta - March 21, 2018 - PRLog -- Due to the 12th hour falling through of financing and the contributing factors of a major decline in revenue, I am with heavy heart and regret informing you that as of 5:15 this afternoon Canadian Relocation Specialists and myself personally have, along with financial consultants have entered into the first stages of Bankruptcy with the firm Bromwich and Smith of Edmonton, Alberta.

This impacts all aspects and areas of business by myself and Canadian Relocation Specialists. It does not reflect the business or positions of any contractors, companies CRS has worked with or represented over the years as it is only related to myself and Canadian Relocation Specialists. Any deposits and bids through online booking service USHIP will also be cancelled and USHIP will issue refunds of any fees and payments made to them for bookings not yet completed.

Although we were expecting a line of financing which has fallen through at the last stages and a quick turnaround of the business as we approach the busy relocation season, without the expected immediate financing, I am forced to cease operation immediately and move into the unfortunate position of bankruptcy.

All current items in our possession for delivery will be delivered but no further pickups will be completed. I sincerely apologize for the inconvenience and stress this may cause all of clients and creditors who have stuck with us over the years of success.

Although we can pinpoint several contributing factors to the decline such as the terror attacks last year in Edmonton which reduced one of our major contracts from 2-3 work days per week to only 4-5 in total since the events with one of our major clients, also the ongoing delays of the pipeline construction and reduced price of oil with it's impact on the number of relocations of employees, the reduction of activity in the housing market and large increases in our operating expenses. Recent equipment breakdowns and loss of another contract resulting from a safety failure of a rented truck which was beyond our control but as soon as it was identified, we parked that vehicle, transferred the shipment did not move it until towing was arranged as the safety of staff, shipments and the public is of highest priority, regardless of cost or outcome.

For clients who have vehicle shipments pending but have not been yet picked up, these will be cancelled, any upcoming relocations are cancelled and upcoming deliveries through Canadian Relocations are also cancelled. We will be working with our trustees to deal with all financial obligations throughout the process and keep you apprised through the trustees of any and all financial claims, liabilities, commitments, payments etc.

Again, I am deeply sorry for how this will impact all of our customers and creditors who have supported us over the years. Any questions or comments can be directed to Nichole Polik of Bromwich and Smith at 1-855-884-9243 (tel:(855)%20884-9243) Any and all refunds, repayments, claims, collections etc will need to go through the trustees. Documents and agreements will be finalized with Bromwich & Smith on March 29th, 2018.

Contact
Bromwich and Smith 1-855-884-9243
***@myworldnews.org
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Tags:James Cousineau, Edmonton Business News, Canadian Relocation
Industry:Business
Location:Edmonton - Alberta - Canada
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