#Report
Notice to Bidders - Updated Successful Bid Selection Deadline dated December 2, 2024.pdf — Stakeholder communication
Indian Head Consumers Co-operative Society Ltd.
ActiveFollow
- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 24850
- Industry
- Retail · Grocery & specialty food stores
OverviewSummary updated
Indian Head Consumers Co-operative Society Ltd. filed a notice of intention to make a proposal on August 16, 2024, with Grant Thornton Limited named proposal trustee, before its bankruptcy was dated October 24, 2024, at 16:22, in the Supreme Court of Newfoundland and Labrador (In Bankruptcy and Insolvency), under section 49 of the Bankruptcy and Insolvency Act. The creditor mailing list filed with the notice of intention lists Sobeys Capital Inc. as a secured creditor for $4,335,641.05 and the Town of Stephenville for $28,170.98, alongside nominal $1.00 claims listed for nine other creditors, including CRA - Tax - Atlantic, Employees, WorkplaceNL and Newfoundland Power.
Proceedings AIOpen Proceedings AI
Case updates13 dated entries · 2 undated
#Report
The officer filed report no. Preliminary Report. The Company ceased operations in July 2024 and has no ongoing business; the Trustee is securing the property, collecting minor receivables, and running a court-approved sales process backstopped by a stalking horse bid for the real property.
Source: Trustee's Preliminary Report dated October 30, 2024.pdf
#Order
The court approved a sale and investment solicitation process.
Source: Sales Process Court Order dated October 31, 2024.pdf
#Report
The officer filed report no. First Report. IHCCS ceased operating its grocery store and gas station in July 2024 due to insufficient liquidity and does not intend to resume operations; it is instead pursuing an orderly wind-down and liquidation of its property through a Court-supervised SISP administered by the Proposal Trustee.
Source: First Report of the Proposal Trustee dated September 12, 2024 with Appendices.pdf
Undated filings2 — no date appears on the document · show
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Parties
Debtor
Indian Head Consumers Co-operative Society Ltd.
Trustee in bankruptcy
Doane Grant Thornton
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Sobeys Capital Inc.as of NOI filing date — Listed as secured claim in Creditor Mailing List filed with NOI — debtor: Indian Head Consumers Co-operative Society Ltd. | $4.34M | NOI - Notice to Creditors.pdf |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
10 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale processAs stated in the filings
3 transactions · 2 proposed · 1 approved — Sales Process concurrent with bankruptcy, with a previously executed stalking horse asset purchase agreementTrustee's Preliminary Report dated October 30, 2024.pdf · 30 Oct 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 95748 Newfoundland and Labrador Ltd.Stalking horsethe Purchased Assets · asset sale · nominee/assignee: its permitted assignee · agreement 11 Sep 2024 | Subscribers | Approved18 Oct 2024 | Sales Process Court Order dated October 31,… |
| 95748 Newfoundland and Labrador Ltd.Stalking horsecertain assets of the Company, and to assume certain obligations of the Company (the ' Purchased Assets ') · asset sale · agreement 24 Oct 2024 | Subscribers | Proposedoutside 13 Dec 2024 | Sales Process Procedures and Tender Form dated… |
| Stalking Horse Bidder under the Stalking Horse Asset Purchase Agreement, unnamedStalking horsethe Business and/or the Assets of the Company · asset sale | Subscribers | Proposed | Trustee's Preliminary Report dated October 30,… |
AdvisorsGrant Thornton Limited (sale agent)Trustee's Preliminary Report dated October 30, 2024.pdf
RecoveriesAs stated in the filings
Unsecured creditors: no recovery.EstimatedTrustee's Preliminary Report dated October 30, 2024.pdf · 30 Oct 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | unsecured creditors, or creditors subordinate to Sobeys | — | no recoveryconditional | Estimatedper the proposal trustee | Trustee's Preliminary Report dated October 30, 2024.pdf · 30 Oct 2024 |
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.
Estate financialsReported figures — never derived
Total liabilities at filing
As at ·
Cumulative receipts
$3.21K
As at 12 Sep 2024First Report of the Proposal Trustee dated September 12, 2024 with Appendices.pdf
Cash on hand
As at
Professional fees
As at
2 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plansDocuments
15 filings
| Date | Document | File |
|---|---|---|
| Notice to Bidders - Updated Successful Bid Selection Deadline dated December 2, 2024.pdf | PDF · Subscribers | |
Sales Process Court Order dated October 31, 2024.pdf
| PDF · Subscribers | |
Creditors Package dated October 30, 2024.pdf
| PDF · Subscribers | |
Sales Process Procedures and Tender Form dated October 30, 2024.pdf
| PDF · Subscribers | |
| Solicitation Letter dated October 30, 2024.pdf | PDF · Subscribers | |
Trustee's Preliminary Report dated October 30, 2024.pdf
| PDF · Subscribers | |
OSB Certificate of Appointment.pdf
| PDF · Subscribers | |
First Report of the Proposal Trustee dated September 12, 2024 with Appendices.pdf
| PDF · Subscribers | |
| Affidavit of Derrick McKay sworn September 11, 2024.pdf | PDF · Subscribers | |
| Letter to the Court dated September 11, 2024.pdf | PDF · Subscribers | |
| Affidavit of Darren O'Keefe sworn September 10, 2024.pdf | PDF · Subscribers | |
Application for extension dated September 10, 2024.pdf
| PDF · Subscribers | |
NOI - Notice to Creditors.pdf
| PDF · Subscribers | |
Amended Term Sheet.pdf
| PDF · Subscribers | |
| Appendix A - Tender Form.pdf | 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., “Indian Head Consumers Co-operative Society Ltd.” (Bankruptcy), Supreme Court of Newfoundland and Labrador. Retrieved 4 November 2026, https://proceedings.ca/case/indian-head-consumers-co-operative-society-ltd