Arrows Holdings Limited Partnership and Toronto Arrows GP Inc., Bankruptcy

Arrows Holding Limited Partnership (“Arrows LP”) and Toronto Arrows GP Inc. (“Arrows GP”), Canada’s only professional rugby union team competing in Major League Rugby across North America, filed for bankruptcy on December 7. Arrows LP lists approximately $816.0 thousand in liabilities, including approximately $586.0 thousand to Major League Rugby, LLC, while Arrows GP lists approximately $702.0 thousand in liabilities, including approximately $676.0 thousand to Major League Rugby, LLC. The recent death of the club’s majority owner and a lack of funding sources resulted in the team having to formally withdraw from the 2024 Major League Rugby season on November 27, followed by the formal bankruptcy declaration on December 7. PwC is the bankruptcy trustee.

By: Dina Milivojevic