BG Furniture Ltd.

BG Furniture Ltd. has been in court-appointed receivership in Ontario since January 12, 2017, with A. Farber & Partners Inc. appointed receiver on the application of Grenville Strategic Royalty Corp. under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act (Ontario Superior Court of Justice in Bankruptcy and Insolvency, file no. 35-2199056). Grenville, holder of a general security agreement over non-real property assets, was owed an aggregate minimum of approximately $1,289,000 as of December 19, 2016. Other secured claims as of that date included approximately $664,000 to Saugeen Economic Development Corporation and Bruce Community Futures Development Corporation, approximately $622,000 to Platinum Investment Group Inc., $836,000 to 2110785 Ontario Inc., Adam Hofmann and Dirk Nielson, and $41,200 to 2544311 Ontario Limited, proposed DIP lender and stalking horse investor. Unsecured trade debt stood at approximately $420,000, unpaid wages at approximately $250,222, and unremitted source deductions owing to the Canada Revenue Agency at approximately $49,983. The receivership remains active.