Jan K. Overweel assigned into bankruptcy following trade quota shock and pandemic pressures

Jan K. Overweel Limited, an Ontario storage and logistics company, filed an assignment in bankruptcy on February 12, 2026, two days after ceasing operations due to its inability to meet obligations as they became due.

Incorporated in 2020, the Vaughan-based company operated a storage and logistics business from leased premises in Brampton. Its business model relied heavily on cheese import activities, which accounted for approximately half of total sales.

Management attributes the company’s financial deterioration to structural changes arising from the Canada-European Union Comprehensive Economic and Trade Agreement, which took effect in 2017. More than 50% of new cheese import quota was allocated to domestic dairy producers, and between 2020 and 2024 increased competition and supply pressures eroded margins. The Government’s allocation methodology also directed significant new quota to Jan K.’s customers, resulting in both margin compression and reduced sales volume. The Covid-19 pandemic compounded those pressures, as shipping and distribution costs accelerated beyond the company’s ability to pass increases through to customers.

Creditors are owed approximately $15.3 million. The Statement of Affairs lists one secured creditor, 1001092963 Ontario Limited, owed nearly $9 million. That entity is a related party which acquired the security interests of Farm Credit Canada and Cortland Credit Lending Corporation in February 2025. Unsecured claims total nearly $6,4 million across 167 creditors, alongside 24 contingent claims tied to litigation by customers and former employees.

Bricks Damiani Inc. is the bankruptcy trustee.