V.A. Transport

V.A. Transport, a Boucherville, Quebec-based company that provides transportation, distribution, warehousing and related logistical support services for furniture, household appliances and electronics industries, filed for protection under the CCAA on December 21, listing $16.3MM in liabilities, including $6.4MM to BDC and $2.3MM to Roynat. The company, which has a 40-year history, has been experiencing a decline in profitability since 2012 due to a slowdown in the furniture industry and increasing competition from online US commercial transport companies. Furthermore, the company's fleet of registered vehicles is ageing, which means that a significant investment will be required to renew this fleet. Raymond Chabot was appointed monitor. Counsel is Norton Rose Fulbright for the company and Miller Thomson for Roynat and BDC.