1681676 Ontario Inc. carrying on business as Artex Fashions

1681676 Ontario Inc., carrying on business as Artex Fashions, became bankrupt in Ontario on January 5, 2024 under the Bankruptcy and Insolvency Act, with MNP Ltd. as trustee under estate number 31-3027593. The Statement of Affairs for the business bankruptcy, as at that date, records assets of $200,002.00 against liabilities of $4,646,360.09, leaving a stated deficiency of $4,446,358.09. Secured claims of $200,002.00 are listed, headed by HSBC Bank Canada's line of credit, with the unsecured portions of the HSBC, Business Development Bank of Canada, Merchant Opportunities Fund and Vault Credit positions carried into the unsecured list. The largest single unsecured claim is a $2,403,687.00 shareholder loan owing to Jeffrey Gortler, the officer and director who swore the Statement of Affairs. The estate remains active.