Coast Wholesale Appliances Inc. and Coast Holdings (GP) Ltd.
Follow- Proceeding
- CCAACompanies' Creditors Arrangement Act, RSC 1985 c. C-36, as amended
- File
- S-262686
- Industry
- Retail · Home, furniture & electronics retail
Coast Wholesale Appliances Inc. and Coast Holdings (GP) Ltd. commenced CCAA proceedings in the Supreme Court of British Columbia on April 17, 2026, under court file S-262686, together with Coast Limited Partnership and Coast Holdings Limited Partnership. Consolidated unaudited internal statements at February 28, 2026 show total assets of $82,254,000 against total liabilities of $130,015,000 and equity of negative $47,761K, with long-term debt made up mainly of bank debt of $54.9M, subordinated debt of $17.0M and vendor takeback notes of $13.3M. A syndicate led by Bank of Montreal as administrative agent was owed $68,900,000 in senior secured debt at April 15, 2026, excluding fees, and is also acting as interim lender under a facility of up to $2,000,000 during the initial 10-day stay, secured by an Interim Lender's Charge. TriWest Capital holds $17.0 million of subordinated secured debt.
The court granted an approval and vesting order.
Source: Stay Extension and Sale Approval and Vesting Order - Filed August 7, 2026
Liquidation Sale Approval Order - Filed April 27, 2026 was filed.
Source: Liquidation Sale Approval Order - Filed April 27, 2026
Amended and Restated Initial Order - Filed April 27, 2026 — Amended and restated initial order
Notice of Application - Liquidation Sale Approval - Filed April 23, 2026 — Application / notice of application
Undated filings1 — no date appears on the document · show
Coast - Retail Customer FAQ (FOR BC CUSTOMERS ONLY) — Court officer report filed
Case update
Coast Appliances: 11,135 secured B.C. deposit holders on the books, 801 to be notified
In an application set for October 22, PwC, the monitor, seeks approval to pay the BMO-led syndicate $16.5 million of about $68.9 million owed and to hold up to $4.5 million for claims ranking ahead of it. Of 11,135 B.C. customers it counts as holding secured deposits, its proposed claims process would send notices to an estimated 801.
Guide
What happens to gift cards when a company goes out of business in Canada
When a Canadian store chain files for creditor protection, a court order decides how long its gift cards still work — often about two weeks. What happens after that, and to deposits, refunds, points and bookings, drawn from the 20 retail chains that went to court since 2023.
Outcome brief
Coast Appliances: the brand to Trail, the deposits split by province
A BMO-led syndicate put the 48-year-old appliance retailer into a CCAA with $16.8 million of customer deposits on its books. The monitor treated B.C. consumers' deposits as secured and everyone else's as unsecured, and on August 7, 2026 the court approved the sale of the brand and customer database to Trail Appliances at a sealed price.
Debtor
Coast Wholesale Appliances Inc. and Coast Holdings (GP) Ltd.
Applicant
Bank of Montreal
Monitor
PwC
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorPwC | McCarthy Tétrault LLP | 17 Jun 2026 | Service list · 17 Jun 2026 |
| ApplicantBank of Montreal | Fasken Martineau DuMoulin LLP | 17 Jun 2026 | Service list · 17 Jun 2026 |
| CreditorBradlee Distributors Inc | Blue Rock Law LLP | 17 Jun 2026 | Service list · 17 Jun 2026 |
| CreditorMiele Limited | Stikeman Elliott LLP | 17 Jun 2026 | Service list · 17 Jun 2026 |
| CreditorMoneris Solutions Corp | Reconstruct LLP | 17 Jun 2026 | Service list · 17 Jun 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Secured BC Customers (BC Sale of Goods Act s.75 security interest on unapplied deposits)Priority statutory security interest under s.75 BCSGA over corresponding goods and accounts holding sale proceeds — Approximately 11,135 creditors per books and records. After excluding de minimis and stale balances the pool is about $2.1M (801 creditors). Claims are unconfirmed pending the proposed Claims Process, in which the Monitor will accept, revise or disallow them. Subrogated claims by Payment Processors for chargebacks are possible. Amounts given as of the date of the Third Report. — debtor: Coast Wholesale Appliances Inc. and related Debtors · as of 19 Oct 2026 | $2.9M | Third Report of the Monitor - Filed October 19, 2026 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 8 | Unsecured |
125 more claims in 3 classes The stack holds Secured, PMSI / lessors and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans2 transactions · 1 proposed · 1 closed — sale transaction approved and vesting order grantedStay Extension and Sale Approval and Vesting Order - Filed August 7,… · 7 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Trail Appliances Ltd.the Intangible Assets, being successful outcome of the Commercial Marketing Process · asset sale · agreement 30 Jul 2026 | Subscribers | Proposed | Second Report of the Monitor - Filed August 5,… |
| purchaser(s) of the Debtors' Owned FF&E sold via auction, unnamedOwned FF&E, including warehouse equipment, racking, forklifts, and other fixed assets · auction | Subscribers | Closed9 Jul 2026 | Second Report of the Monitor - Filed August 5,… |
Unsecured creditors: no distribution. Syndicate short.EstimatedNotice of Application - Filed October 20, 2026 · 20 Oct 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Syndicate | — | shortfall | Estimatedper the monitor | Notice of Application - Filed October 20, 2026 · 20 Oct 2026 |
| Unsecured | Debtors' unsecured creditors | — | no distribution | Estimatedper the monitor | Notice of Application - Filed October 20, 2026 · 20 Oct 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.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Interim Distribution and Terminate Certain CCAA Charges Order - Filed October 22, 2026 | PDF · Subscribers | |
Notice of Application - Filed October 20, 2026
| PDF · Subscribers | |
| Notice of Hearing of Application - Filed October 20, 2026 | PDF · Subscribers | |
Third Report of the Monitor - Filed October 20, 2026
| PDF · Subscribers | |
Notice of Application - Filed October 19, 2026
| PDF · Subscribers | |
| Notice of Hearing of Application - Filed October 19, 2026 | PDF · Subscribers | |
Third Report of the Monitor - Filed October 19, 2026
| PDF · Subscribers | |
| Sealing Order - Filed August 7, 2026 | PDF · Subscribers | |
Stay Extension and Sale Approval and Vesting Order - Filed August 7, 2026
| PDF · Subscribers | |
Notice of Application - Filed August 5, 2026
| PDF · Subscribers | |
Second Report of the Monitor - Filed August 5, 2026
| PDF · Subscribers | |
Service List - Coast Wholesale Appliances
| PDF · Subscribers | |
| Coast - Retail Customer FAQ | PDF · Subscribers | |
| Affidavit of Jordan Beaulieu - Filed April 27, 2026 | PDF · Subscribers | |
| Amended and Restated Initial Order - Filed April 27, 2026 | PDF · Subscribers | |
Liquidation Sale Approval Order - Filed April 27, 2026
| PDF · Subscribers | |
List of Creditors - April 27 2026
| PDF · Subscribers | |
| Sealing Order - Filed April 27, 2026 | PDF · Subscribers | |
First Report of the Monitor - Filed April 24, 2026
| PDF · Subscribers | |
| Affidavit of Jordan Beaulieu - Filed April 23, 2026 | PDF · Subscribers | |
Creditor notice
| PDF · Subscribers | |
Notice of Application - Liquidation Sale Approval - Filed April 23, 2026
| PDF · Subscribers | |
CCAA Order - Coast Appliances
| PDF · Subscribers | |
| Proposed Monitors Pre Filing Report | PDF · Subscribers | |
| Affidavit of John Gil | PDF · Subscribers | |
| Coast - Retail Customer FAQ (FOR BC CUSTOMERS ONLY) | 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., “Coast Wholesale Appliances Inc. and Coast Holdings (GP) Ltd.” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/coast-wholesale-appliances-inc-and-coast-holdings-gp-ltd