1886695 Ontario Inc. fka Brant Instore Corporation

1886695 Ontario Inc., formerly Brant Instore Corporation, was placed in court-appointed receivership on December 20, 2022 by the Ontario Superior Court of Justice under BIA s. 243 and provincial Judicature Act authority; the proceeding is closed. Unaudited books as at October 29, 2022 showed total assets of $15,571,000 against total liabilities of $21,645,000, a shareholders' deficiency of approximately $6,074,000, and current liabilities of about $20,840,000 against current assets of about $9,439,000, with all Bank of Montreal obligations reclassified as current on default. BMO, holding security over substantially all assets dated December 19, 2012, was owed $13,022,365 as of December 6, 2022 and was expected to suffer a significant shortfall. Supplier and service provider payables totalled $5.1 million, with $1.4 million in management fees owing to controlling shareholder Hammond, Kennedy, Whitney & Company.