Inara, an Edmonton, Alberta-based company which owns and operates a Quality Inn Hotel in Whitecourt, Alberta, was placed in receivership on May 3 on application by ATB Financial, owed approximately $1.1MM. The 81 room hotel was opened in 1956. In addition to the $1.1MM owed to ATB, Inara also owes the Town of Whitecourt approximately $452.6M in unpaid property taxes, penalties and interest. Hardy & Kelly was appointed receiver. Dentons is counsel for the applicant.
2504121 Ontario Inc., doing business as The Anne Boleyn, a British-style pub in Toronto, Ontario, filed for bankruptcy on April 18, listing $980.9M in liabilities. The pub had only been open since August 2017. BDO is the bankruptcy trustee.
Harry Chung Enterprises Inc., a Toronto, Ontario-based company that operated an Aroma Espresso Bar franchise from premises located at 1864 Queen Street East, Toronto, filed for bankruptcy on April 9. Spergel (GRIP) is the bankruptcy trustee.
RNG Restaurants, which operates a Boston Pizza from premises located at 16A Leslie Street, Toronto, Ontario, filed for bankruptcy on February 14, listing $1.9MM in liabilities, including $908.3M to RBC. msi Spergel is the bankruptcy trustee.
Pizza Salvatore, a Thetford Mines, Quebec-based pizza restaurant franchise with more than 12 restaurants in operation in Quebec, filed for bankruptcy on January 17, listing $761.0M in liabilities. Raymond Chabot is the bankruptcy trustee.
2104488 Ontario, which operates a Boston Pizza at 100-5170 Yonge Street, Toronto, filed for bankruptcy on January 14, listing $1.7MM liabilities, including $900.0M to BNS. msi Spergel (ICIN) is the bankruptcy trustee.
Hopscotch, a Toronto, Ontario-based healthy fast food business with two locations in Toronto and one in London, Ontario, owned by 2576230 Ontario, 2511981 Ontario and 9241922 Canada (collectively the "Debtors"), was placed in receivership on December 19 on application by RBC. By spring 2018, the Debtors were regularly offside on their accounts; as a result, in May, RBC called Wyatt Booth, an officer and director of the Debtors, to discuss the Debtors' financial situation. During the call, Booth advised that Cara Restaurant Group had expressed an interest in buying the business. Several months later, Booth further advised that the restaurant had suffered a severe flood in August, which resulted in over $150.0M of damage to its food inventory and equipment. He mentioned that two private investors would be acquiring 5-10% of the company, which would give the restaurant the financial relief required after the August incident. In response, RBC indicated to Booth the major items that it required immediate information on, including financial reports. However, when RBC met with Booth in September 2018, he was unable to provide any financial information to RBC, such as total sales for each Hopscotch location, monthly expenses and confirmation of rent payments. In October 2018, RBC made formal written demand for repayment of all indebtedness, arguing that the Debtors have been unable to secure alternative financing or otherwise repay RBC despite ample time being given. Spergel (ICIN) was appointed receiver. Counsel is Minden Gross for the applicant, Garfinkle Biderman for the Debtors and Aird & Berlis for the receiver.
Sports Villas Resort, a Port Blandford, Newfoundland & Labrador-based golf resort, was placed in receivership on November 12, listing $8.1MM in liabilities, including $3.3MM to BDC. BDO is the privately-appointed receiver.
2333-4600 Quebec, a Montreal, Quebec-based restaurant with take out service, filed for bankruptcy on October 25, listing $48.5M in liabilities, including $30.5M to Canada les Halles Holding. Raymond Chabot is the bankruptcy trustee.
Sumo Sumo, an Edmonton, Alberta-based full service sushi restaurant, filed an NOI on September 6, listing $3.0MM in liabilities, including $2.3MM to BDC. The Bowra Group is the proposal trustee.