14 affiliated companies operating Popeyes Louisiana Kitchen restaurants across the GTA
- Proceeding
- Interim receivershipsection 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-25-00753523-00CL
The 14 affiliated companies operating Popeyes Louisiana Kitchen restaurants across the Greater Toronto Area were placed into an interim receivership under section 47 of the Bankruptcy and Insolvency Act commencing October 10, 2025, and the proceeding remains active. Meridian Credit Union Limited holds general security agreements over the present and after-acquired property of each operating company, with payout balances as of October 7, 2025 ranging from $204,187.86 owing by 2397495 Ontario Ltd. to $1,001,875.90 owing by Al-Mueed Foods Inc., each excluding accruing interest and costs. Al-Haadi Foods Inc. and Al-Razzaaq Foods Inc. are guarantors of the indebtedness of 2690195 Ontario Inc., with a combined balance of $1,896,568.36 on the same date. The service list also identifies equipment and vehicle financiers Nissan Canada Inc., BMW Canada Inc., Toyota Credit Canada Inc. and CWB National Leasing Inc., together with 1000201505 Ontario Inc., 2M7 Financial Solutions, On Deck Capital Canada, Inc. and Sincan Holdings Ltd., as secured creditors.
The officer filed report no. First Report. The Companies ceased operating their Popeyes franchise locations after termination by the franchisor, and the Receiver has since closed all thirteen sale transactions for the locations; the Companies now have no operations, no employees, and no remaining assets, and are to be assigned into bankruptcy.
The officer filed report no. Supplemental to the Second Report. The Interim Receiver reports that the MIFK Purchaser's sale of the MIFK location (3740 Midland Ave.) was terminated after lease talks with the landlord failed, and a new purchaser, Guru McNicoll Inc., agreed to buy it at the same price on a new lease with the landlord. It also reports the ARF and 261Ont purchasers were reassigned to newly incorporated corporations.
Source: Supplemental Report to the Court
The court granted an approval and vesting order for the sale to 1001263956 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Source: Meridian v. 1001263956 Ontario Inc - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to FRC FOODS INC. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Source: Meridian v. FRC FOODS INC. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to Guru 194 Queens Inc. Closing terms, as extracted: vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of Closing conditions.
Source: Meridian v. Guru 194 Queens Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to Guru McNicoll Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price and satisfaction/waiver of Closing conditions.
Source: Meridian v. Guru McNicoll Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to HFL Restaurants Parkway Inc. Closing terms, as extracted: Vesting occurs upon delivery of a Receiver's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Source: Meridian v. HFL Parkway Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to 1001362938 Ontario Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Source: Meridian v. 1001362938 Ontario Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to 1001363100 Ontario Inc. Closing terms, as extracted: Vesting effective upon delivery of the Receiver's Certificate confirming payment, satisfaction/waiver of conditions, and completion of the Transaction.
Source: Meridian v. 1001363100 Ontario Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to 1001407600 Ontario Inc. Closing terms, as extracted: vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price and satisfaction of closing conditions.
Source: Meridian v. 1001407600 Ontario Ltd. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to Guru Military Trail Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Source: Meridian v. Guru Military Trail Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order for the sale to HFL Restaurants Lawrence Inc. Closing terms, as extracted: Vesting effective upon delivery of a Receiver's Certificate confirming payment of the Purchase Price and satisfaction of closing conditions.
Source: Meridian v. HFL Lawrence Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order. Closing terms, as extracted: vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price, satisfaction/waiver of conditions, and completion of Transaction.
Source: Meridian v. 1001408674 Ontario Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order. Closing terms, as extracted: vesting effective upon delivery of Receiver's Certificate confirming payment of Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Source: Meridian v. HFL Ellesmere Inc. - Approval and Vesting Order December 3, 2025
The court granted an approval and vesting order. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate confirming payment and satisfaction of conditions.
Source: Meridian v. HFL Sheppard Inc. - Approval and Vesting Order December 3, 2025
The court appointed BDO Canada Limited as receiver, on the application of Meridian Credit Union Limited. Court file CV-25-00753523-00CL.
Source: Meridian Receivership order
14 affiliated companies operating Popeyes Louisiana Kitchen restaurants across the GTA — Interim Receivership filed, Ontario.
Debtor
14 affiliated companies operating Popeyes Louisiana Kitchen restaurants across the GTA
Applicant
Meridian Credit Union
Interim receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 16 orders, Dec 2025 – Apr 2026 | 318 cases on record |
| Justice Osborne | Ontario Superior Court of Justice | 2 orders, Oct 2025 | 168 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantMeridian Credit Union | Spetter Zeitz Klaiman Pc | 3 Dec 2025 | Order · 3 Dec 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Meridian Credit Union Limited · in 20 casesGeneral Security Agreements (Al-Haadi Foods Inc. dated March 21, 2023; Al-Razzaaq Foods Inc. dated July 8, 2024); guarantees dated March 21, 2023 and July 8, 2024 respectively of 2690195 Ontario Inc. indebtedness — Combined outstanding balance for both guarantor entities per payout statement, Exhibit "87"; excludes accruing interest and costs; related-party corporate guarantors — debtor: Al-Haadi Foods Inc. and Al-Razzaaq Foods Inc. (as guarantors of 2690195 Ontario Inc.) · as of 7 Oct 2025 | $1.9M | Motion Record |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
17 more claims in 2 classes The stack holds Secured and PMSI / lessors claims.
Every creditor and every amount, drawn to scale.
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See all plansThis proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
14 transactions · 9 approved · 2 proposed · 2 closed · 1 not completed — the Receiver closed all thirteen (13) TransactionsFirst Report to Court – dated 2026-04-21 · 21 Apr 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001263956 Ontario Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 20 Oct 2025 | not stated | Approved3 Dec 2025 | Meridian v. 1001263956 Ontario Inc - Approval… |
| 1001362938 Ontario Inc.the Debtors' right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 2 Dec 2025 | not stated | Proposed3 Dec 2025 | Meridian v. 1001362938 Ontario Inc. - Approval… |
| 1001363100 Ontario Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 2 Dec 2025 | not stated | Proposed3 Dec 2025 | Meridian v. 1001363100 Ontario Inc. - Approval… |
| 1001407600 Ontario Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement · asset sale · agreement 20 Oct 2025 | not stated | Approved3 Dec 2025 | Meridian v. 1001407600 Ontario Ltd. - Approval… |
| FRC FOODS INC.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 5 Nov 2025 | not stated | Not completeddate not stated | Supplemental Report to the Court |
| Guru 194 Queens Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 20 Nov 2025 | not stated | Approved3 Dec 2025 | Meridian v. Guru 194 Queens Inc. - Approval and… |
| Guru McNicoll Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 2 Dec 2025 | Subscribers | Approved3 Dec 2025 | Meridian v. Guru McNicoll Inc. - Approval and… |
| Guru Military Trail Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 10 Nov 2025 | not stated | Approved3 Dec 2025 | Meridian v. Guru Military Trail Inc. - Approval… |
| HFL Restaurants Ellesmere Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 7 Nov 2025 | not stated | Approved3 Dec 2025 | Meridian v. HFL Ellesmere Inc. - Approval and… |
| HFL Restaurants Lawrence Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 7 Nov 2025 | not stated | Approved3 Dec 2025 | Meridian v. HFL Lawrence Inc. - Approval and… |
| HFL Restaurants Parkway Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 7 Nov 2025 | not stated | Approved3 Dec 2025 | Meridian v. HFL Parkway Inc. - Approval and… |
| HFL Restaurants Sheppard Inc.the Debtor's right, title and interest in and to the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 7 Nov 2025 | not stated | Approved3 Dec 2025 | Meridian v. HFL Sheppard Inc. - Approval and… |
| purchasers of the thirteen Franchise Locations, unnamedthe thirteen (13) sale transactions... contemplated by the thirteen (13) respective asset purchase agreements... for the Locations operated by the Companies · asset sale | not stated | Closed | First Report to Court – dated 2026-04-21 |
| unnamedall thirteen (13) Transactions | not stated | Closed | First Report to Court – dated 2026-04-21 |
Unsecured creditors: no distribution. Meridian short.Motion Record of the Receiver · 21 Apr 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Meridian | — | shortfall | Estimatedper the receiver | First Report to Court – dated 2026-04-21 · 21 Apr 2026 |
| Unsecured | remaining creditors of the Companies | — | no distribution | per the receiver | Motion Record of the Receiver · 21 Apr 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
2 engagements · 2 firms — latest: BDO Canada Limited, 4 Dec 2025 – 19 Apr 2026, soughtMotion Record of the Receiver · 21 Apr 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| BDO Canada LimitedReceiver | 4 Dec 2025 – 19 Apr 2026Sought | Motion Record of the Receiver · 21 Apr 2026 | |||
| WeirFouldsCounsel | 4 Dec 2025 – 18 Mar 2026 | Motion Record of the Receiver · 21 Apr 2026 |
6 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansCash on hand
$7.16M
As at 21 Apr 2026First Report to Court – dated 2026-04-21
Professional fees
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Order of Justice Cavanagh
| PDF · Subscribers | |
First Report to Court – dated 2026-04-21
| PDF · Subscribers | |
Motion Record of the Receiver
| PDF · Subscribers | |
Meridian Ancillary order
| PDF · Subscribers | |
Meridian Receivership order
| PDF · Subscribers | |
Meridian v. 1001263956 Ontario Inc - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. 1001362938 Ontario Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. 1001363100 Ontario Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. 1001407600 Ontario Ltd. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. 1001408674 Ontario Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. FRC FOODS INC. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. Guru 194 Queens Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. Guru McNicoll Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. Guru Military Trail Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. HFL Ellesmere Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. HFL Lawrence Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. HFL Parkway Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Meridian v. HFL Sheppard Inc. - Approval and Vesting Order December 3, 2025
| PDF · Subscribers | |
Supplemental Report to the Court
| PDF · Subscribers | |
Order of Justice Steele
| PDF · Subscribers | |
First Report to Court
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Endorsement - Osborne J
| PDF · Subscribers | |
Interim Receivership Order
| PDF · Subscribers | |
Supplementary Affidavit of Ramona
| PDF · Subscribers | |
Application Record
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “14 affiliated companies operating Popeyes Louisiana Kitchen restaurants across the GTA” (Interim receivership), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/14-affiliated-companies-operating-popeyes-louisiana-kitchen-restaurants-across-t