September 18, 2019
Black Angus Group, a Thornbury, Ontario-based group of companies operating a butcher shop business, was placed in receivership on September 18 on application by Laurentian Bank, owed approximately $1.2 million. Founded in 2005, the company operated online and through three retail locations, selling traditional wild game meats such as boar, bison and venison, as well as more unique meats such as kangaroo and crocodile. Operating under a forbearance agreement since August 2018, the company was unable to refinance its debt and, in recent months, made minimal deposits to its Laurentian bank accounts, leading Laurentian to believe that the company was depositing its accounts receivable with another financial institution. RSM was appointed receiver. Counsel is TGF for the applicant.