Sigmadek Ltd., bankruptcy

Sigmadek Ltd., an Alberta-headquartered manufacturer and vendor of retail deck and patio products, filed an assignment in bankruptcy on June 14, 2023. The company cited the causes of its insolvency as being, primarily, poor market acceptance of the company’s products, leading to insufficient sales to cover operating costs, resulting in significant ongoing losses and the inability to service required secured debt payments. The company also received an unfavourable tax reassessment from CRA, which further burdened it with a large potential liability. The company’s parent was ultimately unwilling to continue to fund the company. B. Riley Farber is the Bankruptcy Trustee.

By: Dina Milivojevic