MF Live Inc., a Saskatchewan-based company organizing the Roxodus Music Fest, filed for bankruptcy on July 12, listing $18.3MM in liabilities, including $11.2MM to Taurus Site Services and $5.0MM to Eventbrite. The company was organizing a four-day concert to be held from July 11 to 14 on a 420-acre space near Wasaga Beach, Ontario. Featured groups slated to perform at the event included Aerosmith, Kid Rock, Nickelback and Lynyrd Skynyrd, among others. Just days prior to the festival, however, the company announced that it was cancelling the event, citing tremendous rainy weather that impacted its ability to adequately prepare the venue for the event. It has also come to light that the company is under investigation from the local conservation authority for allegedly destroying protected forest and wetlands in preparation for the festival. Grant Thornton is the bankruptcy trustee. BT Legal is counsel for the company.
Quinsam Coal Corporation, a company which owned and operated a coal mine on Vancouver Island, British Columbia, filed for bankruptcy on July 3. The company produced high-quality thermal coal that was sold to the cement industry in British Columbia and to international cement and power-generating customers around the Pacific Rim. Due to a prolonged and steep decline in thermal coal prices, changes in market demand and a decline in productivity of the mine the company ran out of funding to continue operations. The mine ceased operating and was put into care and maintenance at the end of May 2019. The principal objective of the trustee is to attempt to sell and realize on the company's assets and to work with the province to facilitate the wind up and remediation of the mine. PwC was appointed trustee. Counsel is McMillan for the company and Cassels Brock for the trustee.
Flexcavators Canada, a Calgary, Alberta-based distributor of innovative excavation equipment and accessories, filed for bankruptcy on June 17, listing $487.0M in liabilities, including $115.6M to BDC. Grant Thornton is the bankruptcy trustee.
Cross Country Installation & Service, a Toronto, Ontario-based equipment installation and project management company, which provides its installation services to communities all across Canada, filed for bankruptcy on May 8. PwC is the bankruptcy trustee.
Topaz Cabinets, a Toronto, Ontario-based manufacturer of cabinets and countertops, filed for bankruptcy on May 1, listing $413.0M in liabilities. SLF is the bankruptcy trustee.
2504121 Ontario Inc., doing business as The Anne Boleyn, a British-style pub in Toronto, Ontario, filed for bankruptcy on April 18, listing $980.9M in liabilities. The pub had only been open since August 2017. BDO is the bankruptcy trustee.
Scholary Book Services, a Toronto, Ontario-based book distributor, filed for bankruptcy on April 18, listing $241.3M in liabilities. Founded in 1980, the company was the exclusive Canadian distributor for over 40 US and UK university presses, providing full-service sales, marketing and order fulfillment in Canada for its publishers. SLF is the bankruptcy trustee.
Harry Chung Enterprises Inc., a Toronto, Ontario-based company that operated an Aroma Espresso Bar franchise from premises located at 1864 Queen Street East, Toronto, filed for bankruptcy on April 9. Spergel (GRIP) is the bankruptcy trustee.
Unison Construction Management, a Vancouver, British Columbia-based construction company, filed for bankruptcy on April 5. listing $9.2MM in liabilities, including $739.1M to BMO. The company's portfolio of commercial design-build projects include MNP's Vancouver offices at 1021 West Hastings Street. Grant Thornton is the bankruptcy trustee.
Intelligent Engineering (Canada) Limited, an Ottawa, Ontario-based technology company that sold a proprietary structural composite material used extensively in civil, maritime and offshore construction projects, filed for bankruptcy on April 4, listing $4.3MM in liabilities, including $3.9MM to its UK-based parent company. MNP is the bankruptcy trustee.