Laboratoires C.O.P. Inc., 9327-6269 Quebec inc., Ideal Protein of America, Inc., and Pharmalab Inc., CCAA

Laboratoires C.O.P. Inc., 9327-6269 Quebec inc., Ideal Protein of America, Inc., and Pharmalab Inc. (collectively, “Ideal Protein”), a Lévis, Québec-based group of companies in the diet products, nutritional supplements and natural products market, obtained CCAA protection on August 15. Ideal Protein employs approximately 235 employees. It has been attempting to improve its financial performance since 2019, including through various cost cutting and operational measures. These measures have showed signs of having a positive impact on Ideal Protein’s operations, but they have not halted the decline in business experienced by Ideal Protein’s clinics, which are essentially the client base through which the Ideal Protein products are distributed. EY is the Monitor, represented by Fasken. McCarthy Tétrault is counsel to Ideal Protein and Stikeman Elliott is counsel to the lending syndicate.

By: Dina Milivojevic