Prostar Manufacturing

Prostar Manufacturing, an Okotoks, Alberta-based manufacturer of automated well servicing equipment for the oil and gas industry, filed for bankruptcy on June 30, listing $94.6 million in liabilities, including $43.0 million to ATB Financial. The company began to experience financial difficulties as a result of the downturn in oil and natural gas pricing and its financial difficulties were exacerbated by the recent COVID-19 pandemic. Grant Thornton is the bankruptcy trustee.