Frightened with bankruptcy, Green Party contemplates shutting its head office

Key takeaways: 

• Party’s economic department states menace of bankruptcy became ‘very real’ in the spring.
• Green Party’s financial threats as they think to shut its head office. 

Green Party threatened with bankruptcy: 

As it scans for ways to lower its costs and avoid bankruptcy, the Green Party of Canada is contemplating abandoning its Ottawa party office.

A statement from the party’s financial department, given to party members at last weekend’s virtual general meeting, states the cash-strapped party is holding all of its choices, including closing down the office.

Contributions to the Green Party dropped off a cliff in June as works by members of the party’s executive council to sack leader Annamie Paul scattered over in public. The decline in donations also agreed with the recent federal election.

“This past year has been challenging for the Green Party of Canada Fund. The threat of insolvency became very real in the spring and the summer,” the party’s financial statement states. “That threat continues to this day.” Source – cbc.ca

The stock administers the Green Party’s finances and operates its assets. It provokes all party expenses, negotiates contracts and agreements with legal concerns inside the party.

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According to the latest figures released by the party’s financial unit, the Greens have expended 1,722 monthly contributors since January 2020 — 499 since July.

The statement also says the party has lost approximately 6,259 members since July. Membership in the Greens stood at 35,000 approximately a year ago, after the party’s last leadership race.

The last few months have been turbulent ones for the Greens — considered by MP Jenica Atwin’s failure to the Liberals, tries to dismiss Paul from the leadership, legal actions and allegations of racism and sexism.

Paul formally left the leadership the previous month and gave up her party membership.

“This was not easy. It has been extremely painful. It has been the worst period in my life, in many respects,” she stated during her ultimate press conference as Green leader in September. Source – cbc.ca