La Pâtisserie de Gascogne

La Pâtisserie de Gascogne, a Montreal, Quebec-based upscale pastry shop chain with a 60-year history, filed an NOI on January 10, listing $4.1MM in liabilities, including $1.2MM to RBC. Subsequently, on January 31, the company filed an assignment in bankruptcy. The sudden closure of the company's production centre in early January left 175 people out of work. The president, Jean-Michel Cabanes, notified employees that the closure was for commercial reasons, and advised them to contact their union representative for more information. The business had not been profitable for some time, which resulted in significant cash flow problems. MNP is the trustee.