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Dartmouth furniture manufacturer Scanwood Canada Ltd. — a supplier of cabinets to Swedish retailer Ikea — was formally declared insolvent Wednesday by a Halifax court.
The company was placed in creditor protection and Green Hunt Wedlake was appointed to monitor Scanwood. The company is continuing as an on-going business.
“We now have a stay in place. We can focus on developing the plan to bring this company back to where it used to be and where it can be,” said Bo Thorn, the chairman of Scanwood.
“All our…