SUMMARY POINTS

- Of the 128 Canadian independent companies listed in 2014, almost half have gone through an insolvency event, been delisted or sold.

- Of the 66 remaining companies, 49 have lost 90% or more of their total equity value. It is extremely difficult to re-capitalize these businesses.

- Approximately 13% of the original 128 companies are alive, and the other 87% have been essentially wiped out.

Some will struggle through this and survive, and new businesses will ultimately surface, but the existing reality for Canadian independent producers and service companies is unspeakably grim.

Author

Mac Van Wielingen