October 3, 2020
Fun and Fitness Trampolines Inc., a Kitchener, Ontario-based “SkyZone” franchise operating a playground area where adults and children make use of trampolines and similar fitness and recreational equipment, filed an NOI on October 3. According to the company, the filing was necessitated by, chronologically: (1) insurance costs which essentially quadrupled, (b) the impact of COVID-19, and (c) the company's financing and guaranteeing the obligations of two related companies, which failed outright due to COVID-19. On November 6, the Ontario Superior Court of Justice (Commercial List) approved a sales process for the company's assets and a stalking horse agreement with a related company. Crowe Soberman is the proposal trustee. Counsel is Simpson Wigle for the proposal trustee and GSNH for the company.