March 3, 2022
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