Brief: Bri-Chem Corp - Cancelation Of $1.5 Mln In Open Purchase Orders

Bri-Chem

24/04/2020 22:26

April 24 (Reuters) - Bri-Chem Corp  BRY.TO :
    * BRI-CHEM CORP - CANCELATION OF $1.5MLN IN OPEN PURCHASE
ORDERS
    * BRI-CHEM CORP - 20% REDUCTION TO EXECUTIVE AND BOARD OF
DIRECTORS' CASH COMPENSATION
    * BRI-CHEM CORP - BRI-CHEM HAS INITIATED 4-DAY WORK WEEK
SCHEDULES
FOR CERTAIN DIVISIONS WITH A CORRESPONDING 20% WAGE ROLL BACK
FOR SALARIED EMPLOYEES
    * BRI-CHEM CORP - REDUCED WAREHOUSE HOURS OF OPERATIONS
ACROSS
CANADA AND U.S. AND NO OVERTIME PERMITTED
    * BRI-CHEM CORP - ELIMINATION OF ALL DISCRETIONARY SPENDING
AND
TRAVEL FOR ALL COMPANY EMPLOYEES
    * BRI-CHEM CORP - DEFERRED PAYMENT OF RENT ON 8 WAREHOUSES
FOR
MONTHS OF APRIL AND MAY
    * BRI-CHEM - EXPECTING A MATERIAL REDUCTION OF REVENUE UNTIL
INDUSTRY ACTIVITIES IMPROVE AND CUSTOMER SPENDING AND DEMAND FOR
OUR SERVICES RECOMMENCES

Source text for Eikon:  ID:nCNW4zrwXa 
Further company coverage:  BRY.TO 

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