Construction TCB Inc., a Saint-Alexandre-des-Lacs, Quebec-based construction company, filed for bankruptcy on November 11, listing no assets and approximately $12,000 in liabilities. Mallette is the bankruptcy trustee.
Virtual Power Systems-Canada, Inc., a Toronto, Ontario based technology company, filed an assignment in bankruptcy on October 21, listing approximately $4 million in liabilities, including approximately $3 million owing to its US parent company. The company was the hardware engineering and manufacturing subsidiary of its US parent company, which operates in the digital infrastructure space. The company never generated any revenues and the parent company decided to exit the space. EY is the bankruptcy trustee. Counsel is Stikeman Elliott for the company.
Halo Metrics Inc., a Richmond, British Columbia-based reseller of technology, products, and services for retail security and merchandising operating out of leased premises in Mississauga, Ontario, filed an assignment in bankruptcy on October 8, 2021, listing assets of approximately $1.4 million and liabilities of approximately $2.9 million. The Bowra Group is the bankruptcy trustee.
A1 Landscaping Inc., a residential landscaping company based in Kitchener, Ontario, filed for bankruptcy on September 10, listing approximately $40,000 in liabilities. The company struggled with low sales due to the pandemic and as a result of an injury to the owner. The company had no employees. It ceased operations around March, 2020. MNP is the bankruptcy trustee.
Bidvine Inc., a Guelph, Ontario-based software development services company that is wholly-owned by a UK company, Bidvine Limited, filed an assignment in bankruptcy on October 6, due to the UK division being placed into administration. Founded in 2014, the company's premise was to make “hiring local, trusted service professionals ridiculously simple”. Liabilities are listed at approximately $100,000. BDO is the bankruptcy trustee.
Alcan Fluid Disposal Ltd., a Prince George, British Columbia-based oil and gas company which operated two wells for the purpose of wastewater disposal, filed an assignment in bankruptcy on September 27, listing over $2 million in debts, including approximately $130,000 for estimated reclamation costs. The company has not been an operating entity for approximately 10 years before the filing. MNP is the bankruptcy trustee.
Premium Liquid Labs Inc., a Burnaby, British Columbia-based manufacturer of electronic cigarette liquids under the Premium Labs was placed into bankruptcy on September 17, on application by EsmokerCanada Inc., owed approximately $2.6 million. BDO is the bankruptcy trustee. Harper Grey is counsel for the applicant.
The Bridal House, an Edmonton, Alberta-based bridal boutique, filed an assignment in bankruptcy on September 10. In a message on its website, the company, which had served Edmonton area brides for 27 years, cited the onset of the COVID-19 pandemic, the shutdown of non-essential businesses and limited retail capacity as the reasons for its filing. Faber is the bankruptcy trustee.
Bonify Holdings Corporation, a Winnipeg, Manitoba-based cannabis company, made an assignment in bankruptcy on September 9, listing approximately $14.5 million in liabilities, including approximately $13.8 million to The Assiniboine Credit Union Limited. Three of the company's executives were dismissed in December 2018 after it was determined they had used a third party to buy cannabis from the black market, selling it in several Manitoba and Saskatchewan retail stores. The company's licence to sell cannabis was suspended at the time, but was reinstated in October 2019. An investigation found that the company had 200 kilograms of cannabis product in its facility that was not authorized for sale. The company undertook an orderly wind-down of its business operations prior to the bankruptcy filing, and cited a lack of access to capital as the cause of its inability to continue. EY is the bankruptcy trustee. Counsel is Taylor McCaffrey for The Assiniboine Credit Union Limited, and MLT Aikins acted as counsel for the company prior to the bankruptcy.
PharmHouse Inc., a licensed cannabis producer with an operating facility in Staples, Ontario, filed an assignment in bankruptcy on September 9, listing over $125 million in liabilities. The bankruptcy filing comes after a successful CCAA proceeding involving a SISP and a sale of the company's assets to Tweed Inc., another Canadian cannabis company. EY is the bankruptcy trustee. Counsel is Bennett Jones for the company and BLG for the trustee.