A Message From Doug Morneau Founder And CEO Rhino Marketing Inc.
After more than 15 years of creative contribution and hard work by many staff, I am deeply saddened to confirm that Rhino Marketing Inc was forced into bankruptcy in February 2012.
It's unfortunate that many have suffered as a result of the company's closure. For this I'm very sorry. It's one thing to take your own lumps, but something else to witness the effect on others you care about: immediate family, staff members, and suppliers.
Rhino's 'Perfect Storm' in part was composed of current international economic pressures, rapid growth, and slow receivables that were just too much to overcome.
In January 2012 Rhino Marketing filed a notice of intention to make a proposal to creditors, however, during the final minutes of restructuring and refinancing with new financial partners, negative and not entirely accurate publicity of Rhino's difficulties by one of Rhino's smaller creditors caused the new partners to immediately withdraw all financial support, thus forcing the company into receivership.
What I'll miss most about Rhino's presence in the Tri-Cities is our ability to participate in the many Charities and Charity Events that my wife and I have donated time and money to over the past decades. You really get a sense of the community by volunteering and serving on various boards such as the Tri-Cities Chamber of Commerce, Share Family & Community Services, and Crossroads Hospice Society.
My hope is that recovery is possible, that my wife and children may once again feel safe in the Port Coquitlam and Tri-Cities community we call home, and given time, that we will be able to build a new organization with a heart to serve.