James Ryan Electric Ltd., an Inverness, Nova Scotia-based electric contractor, filed an assignment in bankruptcy on August 10, 2023, listing approximately $450,000 in debt. The business was adversely affected by the rising costs of material, supply chain issues leading to inordinate delays in projects and subsequent delayed payments from customers. The current economic situation has resulted in fewer new contracts and, despite efforts, the business was unable to meet its ongoing repayment obligations and ceased operations. Goldhar & Associates was appointed Trustee in bankruptcy.

By: Dina Milivojevic