May 31, 2022
The Sanderson-Harold Company Limited c.o.b. as Paris Kitchens, a Richmond Hill, Ontario-based manufacturer of medium to high-end kitchen and bath cabinets which has been operating since 1902, filed an NOI on May 31, listing approximately $8.6 million in liabilities, including approximately $3 million to BMO. The COVID-19 pandemic, rising material costs, supply chain issues and an ongoing construction strike have caused the company to incur significant financial losses. As a result of these issues, the company decided to initiate these NOI proceedings in order to stabilize the business and focus its efforts on preserving value. KSV is the Proposal Trustee. Counsel is Chaitons for the company, Aird & Berlis for the proposal trustee, Cassels for BMO and Gowling WLG for Pillar Capital.
By Dina Milivojevic