January 12, 2023

Filing Type:

Company Counsel: Miller Thomson

Trustee: A&M

Trustee Counsel: Aird & Berlis

Industry:

Province:

Inscape Corporation (TSX:INQ), Inscape (New York) Inc. and Inscape Inc. (collectively, the "Inscape Group"), manufacturers and distributors of office furniture to customers predominantly located in the United States and Canada, were granted CCAA protection on January 12. The Inscape Group maintains its head office in Holland Landing, East Gwillimbury, Ontario and operates from locations in East Gwillimbury, Ontario, as well as various locations in the United States. Over 90% of the Inscape Group's sales are to customers located in the United States. The Inscape Group has faced a number of challenges as a result of the continued impact of the Covid-19 pandemic, including a dramatic decline in order volumes and average order size attributed to a slower than expected return-to-office and many offices instituting work from home policies or transitioning to an entirely virtual office environment. The Inscape Group has also suffered from a number of supply chain and tightening liquidity issues, resulting in a shortage of production materials, which in turn has perpetuated delays to the completion of existing customer projects and orders. The principal purpose of the CCAA proceedings is to allow the Inscape Group to conduct a wind-down and liquidation of its assets and business in an orderly fashion. A&M was appointed monitor. Aird & Berlis is counsel to the monitor, Miller Thomson is counsel to the Inscape Group, Hicks Morley is employment counsel to the Inscape Group and Gowling WLG is counsel to the directors and officers of the Inscape Group.

By Dina Milivojevic