The abrupt closing and announcement this past Friday (July 15, 2011) of the bankruptcy by IQT Ltd, in Oshawa and circumstances surrounding the closing and the impact on its over 400 employees shocked the business community. “The Chamber’s monthly publication “Business Matters” announcing IQT Ltd. Oshawa as one of the Business Excellence Award recipients this September had just been mailed to the business community prior to us receiving notice”, stated Bob Malcolmson, CEO & General Manager of the Greater Oshawa Chamber of Commerce.The annual event recognizes members of the business community for extraordinary success in all areas of business and display leadership within the community. IQT Oshawa and its employees were to be recognized in one of the five award categories.
“Throughout the five month judging process staff at IQT demonstrated excellence with no indications of what was to transpire”, Malcolmson commented. In light of the actions of the parent company, IQT Solutions, and in accordance with the Greater Oshawa Chamber of Commerce bylaws, the Board of Directors has revoked IQT’s membership and has rescinded the Award. “We need to be clear that this decision is no reflection on the professionalism or integrity of the Oshawa employees who have worked very hard to establish IQT Ltd. In Oshawa”, Malcolmson stated.
IQT was to receive the Innovative Technology, for its customer service, sales growth, contribution to the community and innovative and creative approach to integrate leading edge technology.
The Greater Oshawa Chamber of Commerce is one of the largest business associations in Durham Region and is celebrating 83 years as the “Voice of Business” for the Greater Oshawa area. More than 1,150 entrepreneurs, managers and corporate executives represent a membership of over 870 businesses.