ASWR Developments Inc., Bankruptcy

ASWR Developments Inc., an Ontario-based member of the AllStar Group, filed an assignment in bankruptcy on July 2 listing unsecured claims of approximately $1.1 million and contingent claims of $4.7 million.

The company has entered into leases and subleases on behalf of franchisors for Allstar Wings & Ribs locations or franchises.

The company’s liabilities arose primarily as a result of defaults on a number of leases following the COVID-19 pandemic. The group itself continues to operate.

Krieger & Company is the bankruptcy trustee.