Updates to Laurentian insolvency situation

February 4, 2021
Newspapers such as The Star and The Sudbury Star have released new articles on the situation of Laurentian University. The Star reports that Laurentian owes a total of $91M to three banks in addition to having a pension deficit, and states that the university is unable to pay its staff for February. The Sudbury Star explains that Laurentian has begun the process of obtaining a $25M loan to cover its operating costs during the months it will take to restructure its finances. Another Sudbury Star article by reporter Harold Carmichael examines what the creation of “Laurentian 2.0” could entail, such as a re-evaluation of the current programs and of the factors driving enrollment. The Star | The Sudbury Star (1) | The Sudbury Star (2) (ON)