December 1, 2021
Pettos Maintenance Service Ltd. (“Pettos”) filed a NOI on December 1, 2021. Pettos has been providing condominium janitorial services since 1968 and is based out of Mississauga, Ontario. Due to the rising minimum wage, increased insurance costs, low margins, the volatile nature of contracts being undercut and the believed substantial CRA obligations due to alleged negligence of a former employee, Pettos identified the need to wind down operations. Pettos intends to complete an asset sale transaction including the transfer and retention of approximately 100 employees by the purchaser in the NOI proceeding. BDO is the proposal trustee. Counsel for the proposal trustee is WeirFoulds and counsel for Pettos is Keyser Mason Ball.