OAN Canada Inc.

OAN Canada Inc., a Toronto, Ontario-based company, filed for bankruptcy on September 1. Albert Gelman is the bankruptcy trustee.

The Mustard Seed Co-operative Grocery Inc.

The Mustard Seed Co-operative Grocery Inc., a Hamilton, Ontario-based member-owned, not-for-profit grocery store that focuses on locally-grown produce, filed for bankruptcy on August 30, listing approximately $64.9 thousand in assets and $416.1 thousand in liabilities. Due to declining sales, the co-op has been unable to pay its food suppliers in a timely fashion. Prior to the bankruptcy, the co-op asked its members to give $400 each to pay off the amounts it owes to suppliers, but the process was unsuccessful. BDO is the bankruptcy trustee.

Mississauga Metals & Alloy

Mississauga Metals & Alloy, a Brantford, Ontario-based recycler/seller of metals, was deemed to have made an assignment in bankruptcy on August 20, listing approximately $31.1 million in liabilities, including $15.9 million to BNS and $812 thousand to EDC. The company attributes its financial difficulties to several factors, including (i) a catastrophic fire at the company's premises which caused significant damage to its manufacturing facility; (ii) difficulties in collecting receivables due to customer disputes regarding product quality; (iii) significant costs associated with the management and disposal of certain waste nuclear materials stored by the company; and (iv) the negative impact of the COVID-19 pandemic on the company's business operations. As a result of these issues, the company has been dependent on capital injections from the company's shareholders to fund operations. In July, the company filed an NOI so that it could pursue restructuring plans; however, the company ultimately failed to present a proposal to its creditors and was deemed to have made an assignment in bankruptcy on August 20. Richter is the bankruptcy trustee.

Trend Savvy Inc.

Trend Savvy Inc., a Montreal, Quebec-based retailer of designer brand clothing and sunglasses, filed for bankruptcy on August 18, listing approximately $2 thousand in assets and $2.1 million in liabilities, including $380 thousand to Investissement Quebec, $335 thousand to BDC, and $250 thousand to CIBC. Richter is the bankruptcy trustee.

Metropolitan Ice Cream Inc.

Metropolitan Ice Cream Inc., a Toronto, Ontario-based manufacturer of all natural ice creams and fresh fruit ices for Toronto restaurants, hotels, and retailers, filed for bankruptcy on August 10, listing approximately $159.4 thousand in liabilities, including $103 thousand to TD. Dodick Landau is the bankruptcy trustee.

Studio Elastique Inc./Elastic Games Inc.

Studio Elastique Inc./Elastic Games Inc., a Montreal, Quebec-based game development company, filed for bankruptcy on August 2, listing approximately $1.6 million in liabilities, including $664.8 thousand to RBC and $236 thousand to BDC. Raymond Chabot is the bankruptcy trustee.

MO Boutique

MO Boutique, a Lévis, Quebec-based clothing boutique, filed for bankruptcy on July 29, listing approximately $23.5 thousand in assets and $491 thousand in liabilities, including $89.6 thousand to BDC and $70 thousand to Desjardins. Mallette is the bankruptcy trustee.

Industrial Automation Components Corporation

Industrial Automation Components Corporation, a London, Ontario-based electrical equipment and supply wholesaler, filed for bankruptcy on July 29, listing approximately $588 thousand in liabilities, including $179 thousand to Quantum First Automation. Since inception, the company has been under-capitalized. As a result, the company came to rely on high interest credit facilities as a primary source of working capital. Furthermore, for many years the company's profit has been on the decline due to narrowing product margins in response to industry-wide changes eliminating third-party suppliers. More recently, sales in key industries including Canadian pulp, mining, and petrochemical have been on the decline and worsened following the 2020 global pandemic. Lacking sufficient working capital to maintain normal operations or to fund a restructuring of the business, the company decided to stop operating on July 28. MNP is the bankruptcy trustee.

North American Steel Erectors Inc.

North American Steel Erectors Inc., a Cochrane, Alberta-based company that provides steel erector contracting and other services to large construction projects, was placed in bankruptcy on July 29 on application by BNS, owed approximately $1.8 million. The company also owes $2.4 million to Roynat Inc. and $1.2 million to the CRA. At the time of the bankruptcy, the company had three open contracts - one in Alberta and two in Ontario. It attributes its financial difficulties to a project for the supply of steel on a 9th Avenue bridge project in Calgary which is currently the subject of litigation. MNP is the bankruptcy trustee and has determined that there is no economic benefit to complete any of the three open contracts. Counsel is McMillan for BNS, Ramsay Legal Counsel for the company, Thompson Dorman Sweatman for Exact Detailing Ltd and Caron & Partners for the bankruptcy trustee.

Vacances Beltour (9107-7107 Québec Inc.)

Vacances Beltour (9107-7107 Québec Inc.), a Montreal, Quebec-based travel agency, filed an assignment in bankruptcy in February 2021. Following the bankruptcy, on July 26, the Office de la protection du consommateur (OPC) appointed PwC as Claims administrator for the claims submitted to the Compensation Fund for Customers of Travel Agents (CFCTA) in connection with this file.