Throwback Thursday: 20 years ago, Doman Industries undergoes painful restructuring

Throwback Thursday is a weekly feature in which we dip into the Hardlines Weekly Report archives.

On July 27, 2003, Hardlines reported that…

“Doman Industries continues to struggle through restructuring and has obtained an extension of its bankruptcy protection from the Supreme Court of British Columbia as it considers a new loan package, this time from Tricap, which was part of an earlier loan deal.”

Doman Industries, under chairman Herb (Harbanse Singh) Doman, would finally emerge from its restructuring in 2004. Its financial problems had stemmed from debt it incurred in the 1990s. Herb’s nephew Amar Doman acquired CanWel, one of Canada’s largest forest products distributors, in 1999. CanWel was officially renamed Doman Building Materials Group in 2021, but CanWel continues to be the name of one of Doman’s largest divisions.