October 13, 2020
Coulee Craft Brewing Corp., a Lethbridge, Alberta-based craft brewery company with a 16,000 sq. ft. brewing facility including a full-sized brewpub, was placed in receivership on October 13 on application by BMO, owed approximately $887.9 thousand. In a decision made by former management in December 2019, the company's brewing production ceased and all of its employees were terminated. Subsequently, the brewery business, including inventory and the company's goodwill, was listed for sale and the new management pursued leads on potential purchasers or investors. However, due to the COVID-19 pandemic, the company was unable to secure a firm offer before BMO's receivership application was scheduled. Grant Thornton was appointed receiver. Counsel is Cassels for the applicant and Miles Davison for the company.