Bankruptcy proceedings were initiated in recent months, and court documents show Central Welding was legally declared bankrupt on Feb. 15 in the Ontario Superior Court of Justice
A North Bay company in operation for decades has been deemed bankrupt by the court, and its approximately 50 employees have been let go with severance and pension packages in doubt.
Central Welding & Iron Works, located at 1811 Seymour St. in North Bay, was founded in 1980 by Gail and the late Stefan Thomsen, but the family has been in the business since the 1950s. The company billed itself as a world-class bridge fabricator and experienced much business success over the decades. Thomsen passed away in 2021, and the company holdings remained under…
