Restructuring Echo Springs Water Cuts 20 Jobs, Ends Contracts
Echo Springs Water Corp. is cutting 20 jobs and ending several leases and supplier contracts as the insolvent water bottler works to restructure its business.
The company, operating under bankruptcy court protection, said Wednesday it has also agreed to outsource its production to CJC Bottling Ltd., a supplier of private-label bottled water based in Grafton, Ont.
CJC is the sponsor of the reorganization of Echo Springs under creditor protection and is responsible for the direction and control of the business operations.
Echo Springs markets water in Canada and the United States under its Echo Springs and Canada's Choice brands, and also under private-label brands.
Echo Springs shares last traded on the TSX Venture Exchange for three cents.