December 17, 2021
Éclairage Contraste M.L Inc., a Lévis, Québec-based lighting manufacturer, filed an NOI on December 17, listing over $8 million in liabilities, including approximately $1.8 million to BDC Capital and approximately $1.5 million to National Bank. The COVID-19 pandemic and its impact on supply chains and production costs, coupled with the negative impacts of a cyberattack suffered earlier this year, created significant pressure on the company's cash flow and finance. The company and the proposal trustee have commenced a solicitation process to identify a strategic partner to allow for the continuity of operations and the maximization of value for creditors. A few investors and buyers have shown interest and discussions are ongoing. MNP is the proposal trustee. McCarthy Tétrault is counsel for the company.