April 7, 2022
1982844 Alberta Ltd., which operated as an overhead door company within central Alberta, filed an assignment in bankruptcy on April 7, listing assets of approximately $1.4 million and liabilities of approximately $1.65 million, including $1.4 million to TD Bank. As a small, family-owned business, the company was affected by the COVID-19 pandemic, and was unable to obtain the sales volumes required to generate sustainable cash flow. In late January, the company (under its previous legal name of On Demand Holdings Ltd.) sold its business an entity related to Wolfe Creek Building Supplies Ltd. The APA excluded, among other things, the purchase of real property owned by the company and the assumption of certain debt owning to TD Bank and CRA. The sale proceeds were paid to TD Bank. Grant Thornton is the bankruptcy trustee.
By Dina Milivojevic