August 28, 2022
Tankhouse Development Inc., which owns real estate and operates a brewery known as Signal Brewing Company in a heritage building in the Corbyville, Ontario distillery district, was placed into receivership on August 25, on application by the Business Development Bank of Canada, owed approximately, $1.6 million. The company's operations were significantly impacted by the restrictions imposed on restaurants during the COVID-19 pandemic and the recent passing of its majority shareholder. The company has been unable to service its secured debt for a significant period of time and BDC has lost confidence that the operations, under new management, could change the past operating results. MNP was appointed as receiver. Counsel is Soloway Wright for BDC.
By Dina Milivojevic