COVID-19 – The Monarch Corporation
For the information of our management team, employees, business partners and general public:
It is apparent that the North American business community is facing some challenging times currently and for the foreseeable future. There is no need to go into defining these challenges, as we are all aware of their impact on our usual daily routines.
The group of businesses owned and operated by The Monarch Corporation, including the Holding Companies- CSH International Inc., Traxx Holding Inc. and Monarch Ventures Inc. along with the HoldCo’s operating subsidiaries, are not immune from these day to day challenges that we all face.
Revenue streams have been interrupted, our customer base has eroded, our operating expenses need attention and our financing obligations continue.
Our primary goal is to manage our enterprises, both in the short term and the mid term, on a one to one basis, so as to be able to return to a normal operating profile across the board, when it is appropriate to do so. Fortunately, some of our business entities continue to provide some degree of normal service, through this down cycle.
The situation that the business community faces today, is what to do when on-going expenses exceed on-going revenue streams. That is the challenge that we all face today, whether it is government, business, industry or our employees. Our high priority goal, is to mitigate the impact the economy has on our employees, to the best of our ability.
Effective immediately, we have closed our Corporate Office in Medicine Hat to the general public. We are encouraging our staff to work from home to help limit the spread of the COIVD-19 virus.
We hope everyone stays safe during these trying times, and we look forward to getting back to business as quick as possible.
Bill Yuill – President & CEO