Primus in court creditor protection, seeks sale to U.S. buyer

TORONTO - Telecom reseller Primus Telecommunications Canada Inc. has been granted protection under the Companies’ Creditors Arrangement Act (CCAA) and is seeking approval of a plan to sell its business to U.S. telecom provider Birch Communications Inc. for approximately $44 million.According to a report in the Globe and Mail, Primus’s sales over the past four years have tumbled as customers have cancelled legacy products, such as home phone and long-distance calling. The Toronto-based company has been unable to make up the difference with more lucrative products such as higher-speed Internet services.As one of the largest alternative telecom operators in Canada, Primus...