Whyte’s Foods Inc. et al., a Mississauga, Ontario-based manufacturer and importer of prepared foods specializing in the production of pickled and fermented food products, was placed into receivership on October 12, on application by Farm Credit Canada, owed approximately $34.7 million. Whyte’s has faced significant financial difficulties due to the COVID-19 pandemic and crop shortages, which resulted in the company repeatedly defaulting on the terms of its credit agreements with FCC and Wells Fargo. On August 23, Whyte’s filed an NOI and A&M was appointed proposal trustee. A SISP was approved as part of the NOI process, but did not result in a going concern sale. The NOI proceedings are ongoing. FTI is the receiver. Counsel is Fasken for A&M, Bennett Jones for the receiver, Gowlings for FCC, Stikeman Elliott for the company and Norton Rose Fulbright for Wells Fargo.

By: Dina Milivojevic