September 9, 2019

Filing Type:

Trustee: PwC

Trustee Counsel: BLG

Applicant: BMO

Applicant Counsel: Dentons

Industry:

Province:

Westridge Cabinets, a Red Deer, Alberta-based cabinet manufacturer, was placed in receivership on August 16 on application by BMO, owed approximately $2.4 million. Attributing its financial difficulties to the consistent decline in housing starts in Alberta, the company filed an NOI on July 5 after its majority shareholder, Toronto-based Signal Hill Equity Partners, advised that it was no longer prepared to continue supporting the company's financial losses. While under creditor protection, the company began a wind-down of its operations. No proposal was filed by the company and on August 10 it was deemed bankrupt. BMO then moved for a receiver to be appointed to protect its interests. PwC was appointed receiver. Counsel is Dentons for the applicant, BLG for the receiver and TGF for Signal Hill.

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