Earth Boring Co. Limited, CCAA

Earth Boring Co. Limited, a Mississauga, Ontario-based trenchless construction services company with a history dating back to 1947, filed for protection under the CCAA on April 17, 2025, listing approximately $49 million in secured liabilities​.

The filing follows several months of liquidity deterioration, stemming from a $15 million loss on a large municipal project, $22 million in additional costs due to subcontractor issues, delays in project starts caused by changes to provincial infrastructure funding, and the impact of new tariffs on the construction industry generally​. The company cites these factors, along with industry-wide procurement delays, as the causes of its financial difficulties.

Earth Boring will use the restructuring proceedings to complete a targeted group of profitable projects, run a sale and investment solicitation process, and potentially disclaim unprofitable contracts​. BMO will provide a $5.5 million DIP facility.

BDO is the monitor. Steinberg Advisory Inc. has been appointed as Chief Restructuring Officer.​

Counsel is Reconstruct for the company, Gowling WLG for the monitor, Aird & Berlis for BMO and BLG for Aviva, the applicants’ surety.