Effenco Development Inc.

Effenco Development Inc., a Montréal, Québec-based autotech company, filed an assignment in bankruptcy on April 6, listing assets of approximately $6.6 million and liabilities of approximately $17.5 million, including approximately $3.3 million to Banque de développement du Canada (Québec), approximately $2.4 million to Investissement Québec and approximately $1.1 million to BMO Financial Group. The company's key technology is an electric hybrid Active Stop-Start system that improves energy efficiency on heavy trucks as well as reduce their greenhouse gas emissions by 30%. The company's management attributes its financial difficulties to significant development costs, operational difficulties and insufficient sales, which led to a liquidity problem. Ultimately, management was unable to secure the necessary funding to continue the company's operations. MNP is the bankruptcy trustee. By Dina Milivojevic

Media Central Corporation Inc.

Media Central Corporation Inc., a Toronto, Ontario-based media company, filed an assignment in bankruptcy on March 25, citing its inability to to meet its financial obligations as they come due. The filing does not affect Media Central's subsidiaries, Vancouver Free Press Publishing Corp. and Now Central Communications Inc., which publish the Georgia Straight and NOW Magazine. The publications were distributed for free on each city’s mass transit routes. With the major decline in ridership because of COVID, advertising revenues dropped dramatically and the operations could not be sustained in their previous form. The company defaulted on its secured senior debentures in the amount of $1.1 million and was unable to raise any more money. Accordingly it filed an assignment in bankruptcy. Ira Smith Trustee & Receiver Inc. is the bankruptcy trustee. By Dina Milivojevic

Fossil EPC Ltd.

Fossil EPC Ltd., which owned and operated an engineering, procurement, construction and management company out of Nisku, Alberta, made an assignment in bankruptcy on March 16, listing approximately $1.3 million in liabilities, including approximately $950,000 to CRA. The Bowra Group is the bankruptcy trustee.

Sheldon Gross Limited

Sheldon Gross Limited, a Toronto, Ontario-based company, was placed into bankruptcy on March 7, listing approximately $6.4 million in liabilities. The company is related to Gross Capital Inc., a Toronto-based real estate investment firm that filed for bankruptcy on June 25, 2021. KSV is the bankruptcy trustee for both estates. By Dina Milivojevic

2277233 Ontario Inc.

2277233 Ontario Inc., a family run farm operating in Hagersville, Ontario, assigned itself into bankruptcy on March 3, listing over $250,000 in liabilities. The company produced naturally raised products, including fruits, vegetables, beef, pork, chicken, turkey, honey, cheese, eggs and maple syrup. It also worked with local meat processors to source meats that are humanely and ethically raised. The company struggled with financial difficulties caused by poor crop yields and rising input costs (fuel, feed, and fertilizer), and was unable to service its mounting debt and fell behind on loan payments. Ultimately, management made the decision to wind down operations and liquidate all assets. The majority of the company's land and equipment was liquidated, and proceeds paid to secured creditors. MNP is the bankruptcy trustee. By Dina Milivojevic

Cirvis Consulting Inc.

Cirvis Consulting Inc., a Toronto, Ontario-based provider of business and management consulting services for the travel, tourism and hospitality industry, made an assignment in bankruptcy on March 3, listing approximately $800,000 in liabilities, including $600,000 to Desch North America Inc. The company was shut down at the outset of the pandemic, along with most of the travel industry, and it tried to pivot to sell specialty air filters. It built up an inventory of the air filters; however, sales were significantly lower than expected, and it took the Company almost two years to sell 10% of the initial inventory purchased. MNP is the bankruptcy trustee. By Dina Milivojevic

Chatsworth Farms Limited

Chatsworth Farms Limited, a farm located in the County Municipality of Meaford, Ontario, filed an assignment in bankruptcy on February 23, listing approximately $4.2 million in liabilities. Goldhar & Associates is the bankruptcy trustee. By Dina Milivojevic

Sunwave Gas & Power Inc.

Sunwave Gas & Power Inc., a North York, Ontario-based provider of energy commodity products and services, filed an assignment in bankruptcy on February 23, listing approximately $13.2 million in liabilities, including approximately $12 million to ONEnergy Inc., its publicly-traded parent company. In 2015, the Ontario provincial government placed restrictions on door-to-door sales of utility related products and services. This negatively impacted the company’s ability to market its products. After suffering losses since the third quarter of 2017 due to volatility in wholesale energy prices, significant working capital commitment and weather issues, the company formally began marketing itself for sale. The US based division was sold to C Wave Inc. (“C Wave”) in 2019 for US$3.6 million plus working capital. On closing, the working capital was negative US$4.3 million resulting in a payable to C Wave for approximately US$700,000. Demand was made by C Wave for payment of this debt in February 2021 and again 2022. The company was without funds to pay the debt to C Wave. Farber is the bankruptcy trustee. By Dina Milivojevic

Pirate Industries Ltd. and Pirate Excavating Ltd.

Pirate Excavating Ltd., a Vancouver Island-based excavating and landscaping company, and Pirate Industries Ltd., a holding company which leased construction equipment to Pirate Excavating Ltd., each filed an assignment in bankruptcy on January 18. Crowe MacKay is the bankruptcy trustee. RBC holds first charge against all present and after-acquired property of the companies. It appointed BDO as receiver pursuant to its security on or about January 31, 2022. By Dina Milivojevic

Signature Mushrooms Ltd. and Alliance Mushrooms Ltd

Signature Mushrooms Ltd. and Alliance Mushrooms Ltd., two related companies that operated a mushroom farm out of Ardrossan, Alberta, filed assignments in bankruptcy on February 9, listing $3.4 million and $1.3 million in liabilities, respectively. BMO is owed $1.3 million. The Bowra Group is the bankruptcy trustee. By Dina Milivojevic