By Don Urquhart, Times Chronicle
Citing low fruit volumes and difficult market conditions BC Tree Fruits Cooperative has shuttered its doors from today, Friday, July 26 and will seek court direction on winding down the Cooperative.
In a letter to its members, a copy of which was obtained by the Times Chronicle, the Cooperative advised members to search for an “alternative to market your fruit for the balance of the 2024 season.”
“It is with profound sadness that we must inform you that BC Tree Fruits Cooperative will not be receiving fruit beginning today, Friday July 26,” the letter from Rob Stewart, Chair of the Board of Directors and Dough Panklw, Interim CEO and CVO from BC Tree Fruits Cooperative said.
The letter said that on July 25 the board of directors determined that due to “extremely low estimated fruit volumes and difficult market conditions, the cooperative would not be able to effectively operate the business and provide pool returns to growers.”
It went on to say that the Cooperative and all its subsidiaries are “taking steps to obtain court direction and assistance to properly wind down the Cooperative to maximize recovery for all stakeholders.”
The board also noted that members can email [email protected] with any questions and they would try to respond as quickly as possible.
“As the logistics of cooperative wind down are new to everyone, we ask for your patience as we navigate through the process,” the letter read.
BC Tree Fruits operates within the BC Cooperative Association Act.
