Candesto Enterprises Corp., D3 Infrastructure Services Inc., and Safe Roads Alberta Ltd., Crossfield, Alberta-based companies which provide installation services for traffic control, roadside safety and barrier systems in Western Canada, obtained CCAA protection on December 20, listing $10.3 million in liabilities. Certain market and operational conditions have resulted in the companies being unable to consistently perform projects on a profitable basis. In particular, significant inflation on the cost of goods has resulted in several fixed price contracts becoming unprofitable. The companies have also underestimated the labour and materials required to complete certain contracts, resulting in further significant losses and cash flow burn. The companies intend to use the restructuring proceedings to wind down their operations. A&M was appointed monitor. Counsel is Cassels for the companies, Gowlings for the monitor, Rose LLP for Trisura Guarantee Company, and McLennan Ross for Chris Boenkfour and Vor Allem Consulting Ltd. 

By: Dina Milivojevic