The purpose of this post was to inform folks that some NAFA accounts had been updated if they were curious to take a look at what items had been sold.

2 greys for 22 each and 3 cat 46 avg, No reds sold or coons here.

According to the deloitte, any proceeds from fur sales post October 31 will be paid to the supplier, so there is a good chance owners of accounts with recent fur sales will be sent checks for fur sold, minus the normal fees collected by NAFA.

- The CCAA Court order of October 31 prevents the Company from making payments to creditors that were outstanding prior to the time of filing.

-NAFA has received DIP financing to operate from a DIP lender.
- Most of the NAFA operations including financial transactions have to be approved by the court or Monitor.

-

only update on mine is that they actually have posted on my account that my check was "canceled"

If they could only move those grinners that are left ( :grin) !!

So this is bad news since these sales occurred in October? Just updating your losses.

P.S. NAFA was a North American mink ranchers COOP. If the mink ranchers of North America want to start another Auction, they still may not want to sell cheap wild fur.

If coonman sees this there'll be fur on the way!

Dirt, I believe you are correct. NAFA is still operating with a outlined business plan with the court, they are selling assets, and working with SAGA.

Nafa competing with FHA to entice buyers could only help.....the buyers. The trapper suffers.

Nafa helping drown the markets with ranch mink does not help the trapper.

Timing was terrible for Nafa.Going under right at the bottom of the cycle,with the fur market set to take off,and they wont be a player.

If NAFA crawls out of this and is still in business a couple years from now, they will be operating much differently.

Boco, What indicators are you looking at that tell you that the market is poised to take off?

Same as it always is,the demand for fur has not changed,but the supply is drying up.The downward prices were due to overproduction after the last spike in 2012.That was a very good year-$186 avg on marten that year,and ranchers were making big money too-greed took over and the overproduction by the ranchers set the cycle in motion once again.
Anyone who has studied the fur trade over the last 300 years knows that it is always cyclical for one reason or another,affecting supply and demand.

So, none?

So none what?

Economics 101, Supply and Demand

They may be running like in past. Give them a year

It’s gonna take more than a year. IF it ever happens. They’ve got a long way to go to figure out the current mess.

Plus they’ve lost most of their employees and will have to rebuild the trust of trappers to get their shippers back. And if they are selling off their buildings, where will they operate out of.

I would like to see it happen. Just not overly optimistic that it will.

It is my understanding that around 70% of their business was ranch fur. That means that 70% of their business is gone with their deal with SAGA. Does it not make sense that somewhere in the neighborhood of 70% of their assets, facilities and employees are no longer needed since 70% of their business is gone? Granted, if they do rise out of the ashes on the wild fur side, they will have to gear up facilities and employees to support that business. The way the bad checks and leftover inventory is handled may well determine if will be able to restore enough confidence to even attempt to rise from the ashes. And many of their blue collar employees are already working for FHA or Groenewold.

Still a lot of questions to be answered.

I like the way you think.....my intuition tells me your right .