SR Telecom files for creditor protection under CCAA

MONTREAL – Broadband wireless access solutions vendor SR Telecom Inc. announced Monday it had filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) with the Quebec Superior Court. The company also indicated that operations will continue as usual during the CCAA process, although 35 jobs have been eliminated and the company continues to actively seeking a buyer. The company announced its intention to pursue its sale on November 8, after a strategic review on May 10. SR Telecom stated in a media release that it believes that CCAA protection will enable it to better position itself for an...