Canwest continues death spiral

Canwest continues to argue it will recover, but you really have to wonder if it’ll ever get out of the recovery room. Latest loss is $100 million in the last quarter, with yet another deadline facing it at the end of the month from creditors who wonder if they’ll ever get a piece of their money back. This gloomy quote from CP, itself a victim of CanWest cutbacks:

CanWest, which was once worth more than $2 billion and now has a stock market value of just under $7 million, is working with creditors to recapitalize the company. While negotiations continue, it cautioned it may not be able to survive as a going concern if efforts fail.

CP, July 11 2009

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