NB taxpayers not on hook for money earmarked for Sears call centres, says ONB
The provincial government says taxpayers will not be on the hook for millions of dollars as Sears Canada deals with bankruptcy.
Earlier this year the Gallant government promised $8.7 million in loans, grants, and rebates that would have resulted in more than 500 call centre jobs.
Opportunities New Brunswick chief financial officer Paul Fudge says none of the money promised to the company was paid out and that ONB's standard funding agreement became invalid when Sears entered into court-ordered protection.
Earlier this year Sears Canada listed New Brunswick as a creditor in its bankruptcy filings.
But Fudge says that reflects funding the company had expected to receive before filing for protection.
(with files from CBC)