NAFA has changed financial institution and this is the bump. It may have been a retaliation of the previous lending institution, or it could just be a bank being a bank.... (not a big fan of banks personally, being self employed)
I have had dialogue with many people, talked with a veteran of the trade 60+ years, non-affiliated, and he has full confidence in the company. Talked to other people who try to smear/discredit NAFA at every opportunity and like usual, nothing but negativism towards NAFA, but always is no matter how good things are.
NAFA is restructuring its company, always reacts to current market conditions. Currently the world is moving from a 90,000,000 ranch mink world to a 25,000,000 million mink world which has a massive “mink-pipeline” backlog of a couple seasons.
For NAFA my understanding is that they are moving from a 10,000,000 mink volume to a 3,000,000 mink volume, and obviously reduced logistics. Part of their restructuring is less people needed, also less facilities required, and todays topic, new financing.
Expect the whole of the wild fur market to be burning hot in about 3 years with the massive reduction of ranch mink/available supplies.
If any NAFA shipper has had a cheque bounce, please report it to Mary in Winnipeg and she will ensure you are looked after, including your servce charge.
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