The Huot Group in financial difficulties
A worker on a roof. (File photo)
The Huot real estate group, which manages several construction sites and real estate projects in the Quebec region, seems to be experiencing certain financial difficulties. The company would have put the activities of some construction sites on hold.
The Huot Group, however, claims to have the financial support of business people to continue its operations.
< p class="e-p">In the current context of the economic situation, in particular the rise in interest rates, the increase in the cost of materials as well as the availability of labour, a group of businessmen and women from Quebec is mobilizing to financially support Groupe Huot in maintaining its operations, underlines a press release issued Friday morning.
Quebec media reported Thursday that the construction division of Groupe Huot , Millénium Construction, was placed under supervision. Statements strongly denied by the management of the company.
This unfounded statement creates instability and undermines a company that has participated in the economic life of Quebec for more than 20 years. […] It is therefore responsible for taking a step back and reassessing the situation in order to restart the sites quickly and to respect the infrastructure projects in progress, published Karl-Anthony Huot, on behalf of the company, on social media.
In a press release, it is also specified that the Group's priority is to put a governance structure in place to ensure decision-making to come and allow the resumption of projects as soon as possible.
We also ensure that financial commitments to mortgage creditors will be respected and the committee will make sure to keep the support and customer service for all Group customers and tenants.
The Huot Group and the business people involved in the financial support of the company declined to comment.