iQ Food Inc. – 18 York, iQ Food Inc. – FCP, iQ Food Inc. – Hazelton, and iQ Food Inc. – Bay, NOI

iQ Food Inc. – 18 York, iQ Food Inc. – FCP, iQ Food Inc. – Hazelton, and iQ Food Inc. – Bay, which operate a fast-casual restaurant under the name “iQ” at four separate locations in Toronto, Ontario, and iQ Food Inc., their parent company, filed an NOI on July 23.

iQ opened its first location in 2011 in Toronto’s financial district. Between 2011 and 2019, iQ opened and operated ten locations across Toronto, employing over 150 staff at its peak, and becoming a popular lunch destination for Bay Street professionals and office workers.

Between 2020 and present day, iQ closed six of its locations due to the impacts of the Covid-19 pandemic. At present, iQ operates only at the four remaining locations described above, which collectively employ approximately 50 employees.

In an effort to find a buyer or investor, iQ commenced a pre-filing sale process which resulted in an asset purchase agreement with Happy Belly Food Group. The purpose of the NOI proceedings is to effect the sale to the purchaser.

Dodick is the proposal trustee.