Ilta Grain

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Ilta Grain

Jul 9, 2019 | 18:20 1 Heard today from a reliable source Ilta Grain filed for bankruptcy yesterday. Thought this was one the companies to “deal with”?
Hope no one has delivered anything in the past while. Looks all these tariffs are taking a toll on processors. Reply With Quote
Jul 9, 2019 | 18:26 2 The last people to know will be guys that delivered for that extra half cent.....it would be too bad...I see their trucks around here.... Reply With Quote
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  • Jul 9, 2019 | 18:34 3 I was by the Battleford location yesterday and something made me think things weren’t copacetic there. Reply With Quote
    Jul 9, 2019 | 18:39 4 https://www.pwc.com/ca/en/services/insolvency-assignments/ilta-grain-inc.html Reply With Quote
    Jul 9, 2019 | 21:23 5 Name:  ilta 2019-07-09 212147.jpg
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    https://www.pwc.com/ca/en/car/ilta-grain/assets/ilta-grain-007_070919.pdf
    Last edited by Kraut; Jul 9, 2019 at 21:25.
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    farmaholic's Avatar Jul 9, 2019 | 21:27 6 Try posting a website address where the pdf or html documents can be found. I don't know if you can link those documents like you are trying.

    Anyone? Reply With Quote
    farmaholic's Avatar Jul 9, 2019 | 21:38 7 Maybe the Government should bail them out like Bombardier or show over whelming concern like the did for SNC Lavalin's well being and it's employees!!

    This could be a direct result of our ****ed up trading barriers placed on us as a result of a virtue signalling and incompetent government and its disingenuous reality disconnected moronic leader.
    Last edited by farmaholic; Jul 9, 2019 at 21:40.
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  • Jul 9, 2019 | 22:09 8 Writing was on the wall for a while
    Anyone hear of root rot ????
    Hello 👋, the repercussions are real . Reply With Quote
    Jul 9, 2019 | 22:12 9 Maybe the industry should have paid attention a long time ago to what some of us were pointing out . Sooner or later shit was going to hit the fan .

    Add in Trudeau that helped *** the market .... straw that broke the camel 🐪 back
    Last edited by furrowtickler; Jul 9, 2019 at 22:16.
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  • Jul 9, 2019 | 22:17 10 The numbers are stunning:

    $140 million invested by private shareholders
    $86 million debt from FCC
    $48 million debt from HSBC

    The special crops industry has been struggling for 20 years to make a profit and for the last several years customers for Canadian product have been jerking everyone around with tariffs and other business interruptions. Ie: India, China, Mexico.

    And our farm organizations and government have provided zero leadership....no reciprocal trade tariffs or any action from Canada. Pathetic to say the least. Not to mention how the f’ing two railways have provided disastrous service to the industry.

    The special crops industry....success story in the 1980’s and 1990’s....a disaster for the last 20 years...except for the big AGT. Let’s see how that plays out.

    Expect more firms to go down....I’m surprised this hasn’t started sooner, but the affidavit shows how owners and operators exhaust all options trying to keep the business floating till things get better until they run out of bullets. Reply With Quote

  • Jul 9, 2019 | 23:31 11 Delivered 1200 tonnes of green lentils to ilta end of may. Three weeks later paid in full. A little longer than normal but cheque was good Reply With Quote

  • Jul 10, 2019 | 01:28 12 Wow that is stunning numbers

    Someone at FCC needs to wake up. Passing out millions of dollars to Any Tom dick and Harry ag corporation with zero collateral. Right now they are head scratching what went wrong but it is just the tip of iceberg when it comes to cheap easy money distorting the business world Reply With Quote
    Jul 10, 2019 | 08:48 13 Just another easy pick for a major grainco or the subsidized AGT....there is more consolidation to come... Reply With Quote
    Jul 10, 2019 | 08:53 14
    Quote Originally Posted by Ache4Acres View Post
    Wow that is stunning numbers

    Someone at FCC needs to wake up. Passing out millions of dollars to Any Tom dick and Harry ag corporation with zero collateral. Right now they are head scratching what went wrong but it is just the tip of iceberg when it comes to cheap easy money distorting the business world
    The problem with FCC is the people that seen all this shit hit the fan the last time are now retired ...a whole new group of youngings will buy into the snake oil salesman story....

    Generations of farms have been built on re-financing/bankruptcy disguised as good business acumen...while the rest of the honest farmers get shit on...

    There are new faces at FCC that don't necessarily share your same ideas...

    What JP gervais says on the radio isn't the same as what you hear in the office.... Reply With Quote
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  • Jul 10, 2019 | 10:02 15 FCC and banks might want to wake up, When the guys with paid plants can’t make money, how do you expect the ones borrowing millions to make it? Reply With Quote
    Jul 10, 2019 | 11:54 16 Ok guys fill the glass to the top.

    The banks are secured, and they did the due diligence, and anyone that thinks other wise should throw the bottle cap out.

    Every market and commodity has a cycle. With the wisdoms and comments here we are lucky to have blacktop highways, or any other businesses.

    We are a high cost of production supplier (Brazil Argentina Ukraine Russia Africa India China) we have mechanization but doesn’t mean we are lower cost or better quality etc

    The main issues are political then cost. We truly live in a global market place, more than ever.

    Who and how will somebody buy your business? Even the Huts finance, and from time to time fail for many different reasons.

    Hope it rains again and soon Reply With Quote
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  • Jul 10, 2019 | 12:17 17
    Quote Originally Posted by Rareearth View Post
    Ok guys fill the glass to the top.

    The banks are secured, and they did the due diligence, and anyone that thinks other wise should throw the bottle cap out.

    Every market and commodity has a cycle. With the wisdoms and comments here we are lucky to have blacktop highways, or any other businesses.

    We are a high cost of production supplier (Brazil Argentina Ukraine Russia Africa India China) we have mechanization but doesn’t mean we are lower cost or better quality etc

    The main issues are political then cost. We truly live in a global market place, more than ever.

    Who and how will somebody buy your business? Even the Huts finance, and from time to time fail for many different reasons.

    Hope it rains again and soon


    every one of the countries mentioned supports their farmers,,,,and Canada is actually throwing more money at other countries than they are at western canadian primary production....

    45 million to the ukraine?
    250 to the asia infrastructure bank?
    50 million tweeted to Trevor Noah's cause??????

    When was the last time any country wrote Canada a cheque? Reply With Quote
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  • Jul 10, 2019 | 13:04 18 Lots wrong , and we are definitely
    Too high cost.
    Some of which us our own fault.
    Land prices and rent.
    Pretty hard to point the finger on that one

    Labor cost has been out of our
    Control.
    Competing industry's and people need money to live.
    Not much we can do about that.

    But
    How much has our third world transportation system cost the country. In lost sales and sclapers
    Profits.

    Seed and fertilizer and chem and grain co.s
    have had govt.s at there beckon call.
    Why don't you know your product
    Is worth FOB the port.

    No excuse for seed to cost what it does. A Cartel.

    No excuse for N fertilizer in a country swimming in natural
    Gas to have a world price plus freight cost.
    For N made here.

    Liberals and conservatives
    Work for the other guys.

    As for handouts
    Maybe not the Ukraine but.
    I am going to disagree with you
    On helping the third world get off
    The ground.
    Countrys with nothing are not buying our stuff.
    When they get on their feet they can afford a chicken or a beer.
    And there is a lot of them.
    A home for our product. Reply With Quote
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  • Jul 10, 2019 | 16:09 19 Should there not have been someone in the know to let farmers know that ILTA grain was having issues?


    What the **** do checkoff funds go to either through the CGC or any host of checkoff funding?


    CGC will cover this but why do these agencies not pay attention????? Reply With Quote
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  • Jul 12, 2019 | 21:39 20 Reply With Quote
    Jul 12, 2019 | 21:46 21 They should have never been licensed. ....seems like this is a rinse and repeat bunch....


    It's too bad the CGC people don't exercise their authority. .. Reply With Quote
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  • Jul 13, 2019 | 07:17 22 But high-Sell low, yep that’ll work. Reply With Quote
    Jul 13, 2019 | 07:25 23 They should have bought a railway....then they would be .."in the money" for their shareholders...and should have taken a position in the GTH....real "easy" money there...


    If you guys are following what I am saying???? Reply With Quote
    Jul 15, 2019 | 07:36 24 The creditor list is out and it’s huge !!
    7 pages !!!
    One BTO by BlaineLake is out $1.3 mil
    Several local guys here had cheque’s yanked from their banks . This is not good at all .
    My bet is that anything sold there the past month or so will be lucky to see $.10 on the dollar .
    This will be a huge knife in the back for a lot of producers .
    One buddy I know is out a lot . Said his entire last years profit just vanished.
    Not good in an area that is just making ends meet after last falls shit show .
    And no Sask crop insurance don’t ***in cover that . Reply With Quote
    Jul 15, 2019 | 07:51 25 Farmers have to do their own due diligence but their are agencies that really fell asleep here..

    They should be reporting to CGC and CGC must have heard complaints long ago about this....You don't end up with a list this long ...

    SO i have to ask WTF????

    Really dumb question is ...how the commissions don't give producers the heads up....

    Saskpulse 550000 canary seed 3900 saskflax 3300...

    Just a blurb on their websites that they may have been in trouble to save a shitload of people the headache...

    This is going to affect prices....and farms...

    FCC might be in for 85 million but secondary how many producers will be talking to FCC about this for bill payments?????
    Last edited by bucket; Jul 15, 2019 at 07:59.
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    Jul 15, 2019 | 07:54 26
    Quote Originally Posted by Ache4Acres View Post
    little f@#king late , canada grain commission??????
    and where the f#$k are these bonds that are supposed to protect farmers ????? Reply With Quote
    Jul 15, 2019 | 08:04 27
    Quote Originally Posted by caseih View Post
    little f@#king late , canada grain commission??????
    and where the f#$k are these bonds that are supposed to protect farmers ?????
    Does anyone remember the Office of Assistant Commissioners? Reply With Quote
    Jul 15, 2019 | 08:18 28 When was the last time they cut a check? Two years ago? Good grief Reply With Quote
    farmaholic's Avatar Jul 15, 2019 | 08:39 29
    Quote Originally Posted by farming101 View Post
    When was the last time they cut a check? Two years ago? Good grief
    Huh? No way. If that's the case the CGC should be covering all the Producers who never got paid. Reply With Quote
    Jul 15, 2019 | 08:43 30 This is a glaring example of how unprotected farmers are...... Reply With Quote
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