January 17, 2023
Lakeside Produce Inc., which operates a large-scale commercial greenhouse in Leamington, Ontario and employs hundreds of people, filed an assignment in bankruptcy on January 17. The company lists total liabilities of approximately $188 million, including approximately $166 million to a BMO and Farm Credit Canada syndicate on a secured basis. The company appears to have been impacted by inflationary pressures and increased prices affecting the sector. EY is the bankruptcy trustee. Stikeman Elliott is counsel for the company and Dentons is counsel for the syndicate.
By Dina Milivojevic