Igloo Industries Group Ltd., which operates a Toronto-based commercial food equipment sale and distribution business, filed an NOI on February 21, listing over $13 million in liabilities, including $6.5 million to RBC.

The company employs approximately 30 full-time employees and 10 contractors and has a total payroll of approximately $3.1 million per year. It attributes its financial challenges to rising interest rates causing reduced sales and costs and delays associated with expanding into the US.

Albert Gelman is the proposal trustee.

Counsel is Reconstruct for the company, Fogler Rubinoff for RBC, Torkin Manes for the proposal trustee, Chaitons for Hamil Inc. and DLA Piper for Merchant Opportunities Fund.

By: Dina Milivojevic