Sechelt Innovations Limited is officially out of business.
The District-owned business development corporation was ordered to wind down operations by March 31st after a vote by the new council.
SIL’s volunteer board approved a shut-down plan late last week, which included laying off the company’s two employees effective Monday, March 16th.
In a statement released shortly after the vote, Board Chair Hammy McClymont said, “We have met the District’s direction to complete the orderly wind down of the Company by March 31st. We have identified steps the District should take to complete the dissolution of the Company. We calculate that over $180,000 will be available to be returned to the District when all obligations have been discharged.”
