The Canadian Lamb Producers Co-operative has filed for bankruptcy protection.
The website, not updated since 2014, has since been taken down. The marketing site — Läm — is still live.
Representatives for the co-operative could not comment on the process or whether or not farmers were owed money.
The co-op, where sheep producers bought shares in order to ship lambs, started buying lambs in 2014. At the time, and as it is now, Canadian sheep producers were supplying less than half of domestic consumption of lamb.
Official statement by the Canadian Lamb Producers Co-operative:
In our negotiations and efforts over the last several months, we have failed to obtain the necessary financial investment to scale up the production of product and thus increase sales to reach a sustainable state. This means that although LÄM products are well accepted and product sales generated a profit, the CLPC was not able to generate sufficient volume to cover our fixed costs on an ongoing basis.
We have reached the point where we no longer have the means to pay expenses and continue operations. We therefore have no choice but to cease operations and to lay-off staff. It is with sad regret that after so much effort and investment, that we are stopped just short of sustainability.
In light of this the CLPC has filed for bankruptcy. It is currently in bankruptcy protection for 30 days. This period is to allow for any last efforts to keep the CLPC in operation. After the 30 days the bankruptcy proceedings will be finalized.
The Board of Directors would like to thank all the members for their courage and commitment in attempting to create a more stable and profitable system for marketing lambs.
If any of the membership has questions or concerns, please contact one of your Board members directly as there are no longer staff members to respond to you.
The Board of Directors of the CLPC