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Colabor ( (TSE:GCL) ) has shared an update.
Colabor Group Inc. has obtained creditor protection under the Companies’ Creditors Arrangement Act from the Superior Court of Quebec for itself and certain subsidiaries, enabling a stay of proceedings and access to debtor-in-possession financing from a banking syndicate to support ongoing operations and a formal sale and investment solicitation process. The court-approved restructuring framework, overseen by Raymond Chabot Inc. as monitor, is designed to seek the best available transaction for the company and its stakeholders, while management remains in charge of day-to-day operations; concurrently, Colabor has strengthened its leadership for this critical phase by appointing longtime finance executive Marc-Antoine Daoust as chief financial officer and moving interim CFO Yanick Blanchard into the newly formalized role of chief restructuring officer.
The most recent analyst rating on (TSE:GCL) stock is a Sell with a C$0.04 price target. To see the full list of analyst forecasts on Colabor stock, see the TSE:GCL Stock Forecast page.
Spark’s Take on TSE:GCL Stock
According to Spark, TipRanks’ AI Analyst, TSE:GCL is a Underperform.
The score is driven primarily by sharply deteriorating financial performance (losses, margin compression, and substantially higher leverage) and very weak technicals (deep downtrend with negative MACD). Valuation signals are not supportive due to negative earnings, and a recent negative refinancing/liquidity corporate event adds further downside risk.
To see Spark’s full report on TSE:GCL stock, click here.
More about Colabor
Colabor Group Inc. is a distributor and wholesaler of food and related products serving hotel, restaurant and institutional (HRI) customers in Quebec and the Atlantic provinces, as well as the retail market. Through its two operating activities, the company supplies specialty food items such as meat, fish and seafood alongside a broad range of food and related products via its Broadline distribution activities.
Average Trading Volume: 675,001
Technical Sentiment Signal: Sell
Current Market Cap: C$4.08M
For a thorough assessment of GCL stock, go to TipRanks’ Stock Analysis page.