Edwards Collins Contracting of Placentia, which has been restructuring and refinancing to avoid bankruptcy, has been given more time to do so by a Newfoundland and Labrador court.

On April 4, the Supreme Court ordered an extension to the stay of proceedings until May 31 to “. . . provide the company breathing room to complete the claims process and collection of accounts receivable for the benefit of its creditors” as well as allow it more time to sell some of its real estate and complete a refinancing agreement with a new lender, Travelers Capital Corp.

The 48-year-old family-owned business, which specializes in heavy civil construction, ran into financial challenges during and because of the COVID-19 pandemic.

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