Bankruptcy protection.
Blaming its woes on unfairly dumped foreign steel and high. debt-service costs,. Algoma Steel has placed itself under bankruptcy protection to reorganize its finances. The 4,000-employee Sault Ste. Marie steel maker announced it had filed under the Companies Creditors Arrangement Act on April23 after losing $76.8 million in the first quarter this year. The company, which has posted losses in ten of its last eleven quarters, last went...
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