November 14, 2022
Lischkoff Build Design Ltd., a Huntsville, Ontario-based company in the business of constructing, designing and renovating residential custom homes, filed an assignment in bankruptcy on November 14. According to management, the company began experiencing financial pressures in 2021 resulting primarily from economically adverse contracts, higher labour and material costs and the COVID-19 pandemic. The company was required to utilize a substantial portion of its financial resources to complete these contracts, exhausting working capital to an unsustainable level. Anticipated financing did not materialize, and the company elected to file an assignment in bankruptcy. RBC is owed approximately $280,000 on a secured basis. Rosen Goldberg is the bankruptcy trustee, and Miller Thomson is counsel for the bankruptcy trustee.
By Dina Milivojevic