Interior panelboard manufacturer Ainsworth Lumber reported Wednesday a loss of $88.2 million, or $6.02 a share, on sales of $88.5 million and warned investors that its ability to stay in business is now up to its creditors and suppliers.

"We continued to experience negative operating margins and net cash outflows. As a result, our ability to continue as a going concern will be dependent upon the continuing support of our creditors and suppliers, obtaining additional financing or refinancing our capital structure and, ultimately, achieving profitable operations," the company said in a news release outlining the results.

Ainsworth Lumber is a 50 year old company with operations in British Columbia, Alberta, and the United States.

Ainsworth said prime factors in the quarterly loss result from mill curtailments, lower prices for oriented strand board and the high Canadian dollar.

Source:
50-year-old lumber company struggles with $88.2-million loss - Ainsworth Lumber says its fate is up to creditors, suppliers