July 26, 2019
Noreast Foods, a Scarborough, Ontario-based manufacturer of tofu and bean products, was placed in receivership on July 26 on application by TD, owed approximately $3.4MM. Packaging its products under brands such as Northeast, Guway, Sou Fresh and Sou Organic, the company claims to hold a significant market share of tofu sales in the Greater Toronto Area but has been experiencing financial difficulties recently. Albert Gelman Inc. was appointed receiver. Counsel is Blaney McMurtry for the applicant and Aird & Berlis for the receiver.