Revêtements Louyse Inc. and Signé Hurtubise inc., Receivership

Revêtements Louyse Inc. and Signé Hurtubise inc., a Drummondville, Québec-based aluminum architectural cladding manufacturer, was placed in receivership on October 20 on application by Édyfic Inc., the general contractor on various construction projects on which the company was a subcontractor, owed approximately $4.9 million. The company, which employs approximately 400 people, lists over $16 million in secured debt and over $15 million in unsecured debt. It suffered financial difficulties after reportedly securing large contracts but being unable to complete them due to a lack of liquidity. FTI was appointed receiver. Counsel is Gowling WLG for Édyfic.

By: Dina Milivojevic