Canadian MRO ExelTech filed for bankruptcy protection yesterday afternoon. According to a statement issued yesterday, a bank withdrew its credit to the firm and has demanded repayment.
The company also said in a statement that it "had no choice but to temporarily lay off most of its employees."
The MRO offers heavy maintenance, modifications, refurbishments, and line support at three facilities in Montreal and Quebec City. It has up to 21 regional heavy maintenance bays.