Scholary Book Services, a Toronto, Ontario-based book distributor, filed for bankruptcy on April 18, listing $241.3M in liabilities. Founded in 1980, the company was the exclusive Canadian distributor for over 40 US and UK university presses, providing full-service sales, marketing and order fulfillment in Canada for its publishers. SLF is the bankruptcy trustee.
B.W. Rig Supply, a Nisku, Alberta-based provider of oilfield, industrial, construction and tank supplies, filed an NOI on February 8, owing $58.5M to Canadian Pump & Packaging. Deloitte is the proposal trustee.
Eztia Furnishings, an Edmonton, Alberta-based importer and distributor of household furnishings, was placed in receivership on December 12 on application by HSBC. Bowra Group was appointed receiver. Dentons is counsel to the applicant.
Royal Canadian Bedrock, a Toronto, Ontario-based supplier of stone products for custom homes, high rise condominiums, hotels and commercial buildings, was placed in receivership on December 6 on application by HSBC, owed approximately $2.0MM. Counsel is TGF for the applicant, Cassels Brock for the debtor and GSNH for the receiver.
British Bazaar Company and British Confectionery Company, St. John's, Newfoundland and Labrador-based wholesalers of candy and related products, filed an NOI on November 5, listing $8.4MM in liabilities, including $3.4MM to BMO and $1.8MM to Atlantic Canada Opportunities Agency. Deloitte is the proposal trustee.
Alfacon Solutions, a Milton, Ontario-based material handling equipment supplier, filed an NOI on October 1, listing $10.8MM in liabilities, including $2.1MM to RBC. MNP is the proposal trustee.
536141 Yukon (formerly Northern Industrial Sales Yukon) and 4398548 Canada (formerly Northern Industrial Sales), Dawson City, Yukon-based distributors of industrial, safety, janitorial and building supply items, were placed in bankruptcy on August 28. Grant Thornton is the bankruptcy trustee.
Beaufort Delta Petroleum, a Inuvik, Northwest Territories-based petroleum company owned by Norterra that sells and transports bulk fuels and packaged lubrication to locations within the Mackenzie Delta Beaufort Coast region, filed for bankruptcy on May 11. As of 2016, the company had borrowed $1.9MM from the Northwest Territories Business Development and Investment Corporation, with only $100.0M paid back. Grant Thornton is the bankruptcy trustee.
Floridus, a Mississauga, Ontario-based importer and distributor of Christmas décor, permanent botanicals, and home and garden décor, was placed in receivership on April 3 on application by RBC, owed approximately $3.0MM (CAD) and $3.8MM (USD). RBC decided to demand payment on their loan agreement on account of the company experiencing cash flow difficulties and breaching its debt service coverage ratio. The company is winding down operations and looking to sell its assets as part of the wind down process. James Williams & Associates was appointed receiver. Counsel is Minden Gross for the receiver, BLG for the applicant, and Karl J. Veldkamp and Caldwell Barristers for the company.