El Bosco Inc., a Toronto, Ontario-based food service company, filed an assignment in bankruptcy on January 10, 2022. Dodick is the bankruptcy trustee.
King Street Restaurant Group – a Toronto, Ontario-based hospitality group that operated eight restaurants under various brands including Jacobs & Co, Buca, Bar Buca, La Banane, CXBO and Jamie’s Italian – filed an assignment in bankruptcy on December 9. The Group previously obtained CCAA protection on November 6, 2020. It conducted a SISP in the CCAA proceedings which resulted in no qualified bids being received, and the majority of the Group's assets were ultimately sold to Third Eye Capital Corporation and the Group's other senior secured creditors via a credit bid. MNP was appointed trustee. Counsel is Gowling WLG for the Group, Miller Thomson for the trustee and Bennett Jones for Third Eye Capital Corporation.
Portliving Farms (3624 Parkview) Investments Inc. and various related entities, the owners of the Beachside Motel, the Sunny Beach Motel and the Waterfront Inn in Penticton, British Columbia, had a receiver appointed on November 29, on application by Prospera Credit Union, owed approximately $4.99 million. The Bowra Group was appointed receiver. Counsel is BHL Vancouver for the receiver.
Jam Hospitality Inc. and XS Lounge and Grill Ltd., operating as the Radisson Hotel and Conference Centre at the Calgary Airport, were placed in receivership on November 18, on application by ATB Financial, owed approximately $17 million. PwC was appointed receiver. Counsel is Norton Rose for ATB Financial.
Junction Craft Brewing Inc., a Toronto, Ontario-based craft beer brewery, filed an NOI on October 15, listing approximately $3.8 million in liabilities, including $843.0 thousand to Farm Credit Canada. The company was founded in 2011 by Tom Paterson and Doug Pengelly with a mission to create high-quality, hand-crafted beers. In 2018, the business moved to its current location in a former City of Toronto 1930's art-deco incinerator, affectionately known as 'The Destructor", which was decommissioned in the 1980s and used for raves in the 1990s. Richter is the proposal trustee. Counsel is Chaitons for the company and Aird & Berlis for the proposal trustee.
Mahal Venture Capital Inc. ("Mahal") and Golden Miles Food Corporation ("Golden Miles"), Brantford, Ontario-based companies, had a receiver appointed over their assets owned or used in connection with a flour mill located on 155 Adams Blvd., Brantford, Ontario (the “Real Property”). The application was brought by Skymark Finance Corporation, owed approximately $29 million. Mahal is the registered owner of the Real Property and, once completed, Golden Miles was to operate the flour mill located at the Real Property. KSV was appointed receiver. Counsel is Chaitons for Skymark Finance Corporation, Kirwin Partners for the companies and Blakes for the receiver.
Tomavo Inc., a Moncton, New Brunswick-based fresh food market, filed an NOI on October 7, listing approximately $3.4 million in liabilities. KPMG is the proposal trustee.
McEwan Enterprises Inc., a Toronto, Ontario-based premier hospitality company, obtained protection under the CCAA on September 28, listing over $10 million in liabilities. The company's business is comprised of six high-end restaurant locations (including Bymark, Fabbrica and ONE Restaurant), three gourmet grocery locations, a catering business and an events business, A key part of the company's restructuring plan and the CCAA proceedings is to effectuate a going concern transaction of the company's business, including the sale and transfer of substantially all of its assets and liabilities, to a new entity formed by the company's current shareholders, Fairfax Financial Holdings Limited and McEwan Holdco Inc. A&M was appointed monitor. Counsel is Goodmans for the company and Bennett Jones for the monitor.
732482 Alberta Ltd., the owner of a 61-room limited service hotel located in Lloydminster, Alberta, had a receiver appointed on September 3 on application by ATB Financial, owed approximately $5.2 million. The company, with the assistance of CBRE Limited, ran a pre-filing sales process which resulted in a potential transaction with 2377142 Alberta Ltd. The sale was approved by the Court on October 15. BDO was appointed receiver. Counsel is Burnet, Duckworth & Palmer for ATB Financial and Dentons for the receiver.
Ryding Regency Meat Packers, a Toronto, Ontario-based meat processing company, filed for bankruptcy on June 15, listing approximately $5.2 million in assets and $10.4 million in liabilities, including $7.4 million to Tri-Pet Holdings Incorporated. In 2019, the company closed after the Canadian Food Inspection Agency ("CFIA") revoked its processing licence due to ongoing food safety concerns. On June 10, 2021, the CFIA laid charges against the company for various alleged offences of the Safe Food for Canadians Act and the Food and Drugs Act. Schwartz Levitsky Feldman is the bankruptcy trustee.