#CreditorProtection

@electricbluesfan.bsky.social

4 months ago

4/9 Now, the #ChristensonGroup has filed for #CreditorProtection.

This legal manoeuvre immediately stops:

👉 all #lawsuits from the #seniors and their families who are desperately trying to recover their savings. 👈

The company's own legal filing presents a grim future...

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Glen Korstrom

@glenkorstrom.bsky.social

8 months ago

Vancouver's Donnelly Group readies to exit creditor protection Pub chain employs 500 workers whose jobs were secured thanks to principal Jeff Donnelly reaching deal to buy assets from Bank of Montreal

Good news for Vancouver's Donnelly Group as principal Jeff Donnelly reaches deal to buy assets from Bank of Montreal to keep company solvent, and exit creditor protection
#restructuring #creditorprotection

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RichardJR

@electricbluesfan.bsky.social

8 months ago

3/9 This drama unfolds as Hudson's Bay - Canada's oldest company - works through creditor protection after filing in March due to mounting debt.

Court monitor Alvarez & Marsal filed docs Thursday revealing the overwhelming landlord opposition.
#CreditorProtection #CanadianRetail

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Glen Korstrom

@glenkorstrom.bsky.social

9 months ago

Creditor protection is offering some Vancouver businesses a lifeline Certain businesses have used this mechanism in tough times to preserve jobs and chart a path to survival

Here's my look at the pros and cons of entering creditor protection.
Seems like many retail and hospitality businesses have been in there of late.
The goal for many is to use the process to save jobs, though that does not always happen.
#retail #hospitality #creditorprotection

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RichardJR

@electricbluesfan.bsky.social

11 months ago

2/4
The rejected agreement aimed to give HBC an April deadline and a strict budget to save its last six stores (in GTA/Montreal areas) from liquidation. It would have required regular reporting and given significant power to lenders.
#HudsonBay #CreditorProtection #RetailNews

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AI News Brew

@ainewsbrew.bsky.social

11 months ago

Ontario Judge Rejects Hudson's Bay Restructuring Plan, Raising Receivership Risk for Historic Retailer | AI News Brew <p>TORONTO - An Ontario Superior Court judge has rejected Hudson's Bay Company's proposed restructuring agreement, potentially pushing Canada's oldest retailer closer to receivership [1,2,3,4].</p><p>...

Ontario Judge Rejects Hudson's Bay Restructuring Plan, Raising Receivership Risk for Historic Retailer haiku.ainewsbrew.com/article/3729

#HudsonsBay #RetailNews #CanadianBusiness #Restructuring #RetailCrisis #BusinessNews #CorporateFinance #RetailIndustry #CreditorProtection #RetailBankruptcy

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Jay @ the deep dive

@thedeepdive.bsky.social

1 year ago

Lion Electric To File For Creditor Protection After Defaulting On Debt Canada’s Lion Electric Company (TSX: LEV) is throwing in the towel. The electric vehicle maker has seen its grace period end under certain covenant reliefs granted by lenders, and as a result…

Lion Electric To File For Creditor Protection After Defaulting On Debt

$LEV $LEV.to #creditorprotection #CCAA #EV #electricvehicles

thedeepdive.ca/lion-electri...