Industries RAD Inc., which carries on business under the names Faucher Industries and Rocky Mountain, together with Rocky Mountain Bikes inc., entered bankruptcy under the Bankruptcy and Insolvency Act on July 29, 2026, with the bankruptcy recorded as taking effect at 15:18 that day. The proceedings are carried under court file number 350-11-000057-261. A court officer report was filed on the commencement date, fixing the date and time of bankruptcy. The matter remains active, and the record to date contains no further steps.
The officer filed a report. The Debtor's two divisions (Rocky Mountain and Faucher Industries) were sold to third parties during the prior CCAA proceedings, and the Company has since ceased operations, making an assignment in bankruptcy after collecting sales tax refunds; the Trustee is now administering a wind-down with no ongoing business and no expected distribution to unsecured creditors.
Court officer report filed on the commencement date, recording the bankruptcy as taking effect at 15:18 on July 29, 2026.
Source: Certificate of Appointment
Stay Extension Order, extending the stay of proceedings to September 11th, 2026 was filed.
Source: Stay Extension Order, extending the stay of proceedings to September 11th, 2026
The officer filed report no. Sixth Report. The Applicants have completed the sale of both their Rocky Mountain and Faucher divisions and are now in the wind-down phase, collecting remaining assets (tax refunds, duty drawback) and settling remaining obligations, with no further financing required.
08 Ordonnance mettant fin au processus LACC et libérant le Contrôleur (en anglais) — Discharge order
The officer filed report no. Fifth Report. Following the closing of the Faucher and Rocky Transactions, the Applicants no longer operate any business; remaining activities involve providing transition services to the Rocky Purchaser, winding down operations, collecting the Deferred Consideration, and completing an orderly wind-down.
Request to extend the stay period, declare laid-off employees eligible for the Wage Earner Protection Program, and terminate of the CCAA process (in French) — Application / notice of application
The court granted an approval and vesting order for the sale to 9539-5927 Québec Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Monitor's Certificate confirming execution of the Purchase Agreement and satisfaction of the Purchase Price and closing conditions. Sealed: Asset Purchase Agreement.
The court granted an approval and vesting order for the sale to 9539-5927 Québec Inc. Closing terms, as extracted: Vesting of Purchased Assets occurs upon issuance of the Monitor's Certificate. Sealed: Purchase Agreement, Summary of Offers Received, Purchase Offer from the Buyer, and appendices A and B of the Fourth Report.
Source: 06 Rocky Mountain - Ordonnance d'approbation et de dévolution (en anglais)
The officer filed report no. Fourth Report. Following the sale of the Rocky Mountain division's assets, the majority of the Applicants' employees will be terminated, with a limited number retained during a transition period, while the Monitor and Applicants work toward completing the Faucher and Rocky sale transactions and an orderly wind-down of the CCAA proceedings.
Application for the issuance of an Approval and Vesting Order (en français) — Approval and vesting order
The court granted an approval and vesting order for the sale to Les Câbles Ben-Mor Inc. Closing terms, as extracted: Vesting occurs upon issuance of a Monitor's Certificate confirming the Purchase Agreement has been executed, purchase price satisfied, and closing conditions satisfied or waived. Sealed: Asset Purchase Agreement, Purchase Offer from the Buyer and Appendixes B and C of the Third Report.
The officer filed report no. Third Report. The Applicants continued normal-course operations, negotiated with suppliers and customers, ran the Rocky and Faucher SISP sale processes, and executed a Faucher APA to sell the Faucher division as a going concern while the Rocky Mountain SISP remains ongoing.
Application for the issuance of an Approval and Vesting Order and Assignment of Contracts (en français) — Approval and vesting order
Procedures for the Sale and Investment Solicitation Process - Amended — Sale process approval order
The stay of proceedings was extended to 2025-05-30.
Source: 02 Amended and restated initial order (French Version) - January 6, 2025
The court approved a sale and investment solicitation process. A phase 1 deadline of 2025-02-21. A bid deadline of 2025-02-14.
The court approved a sale and investment solicitation process. A phase 1 deadline of 2025-02-21. A bid deadline of 2025-02-21.
Source: SISP Approval Order
03 Judgment - Amended and restated initial order and order approving the solicitation process (French Version) - January 6, 2025 — Amended and restated initial order
Motion for an Initial Order, for an Amended and Restated Initial Order and an Order Approving a Sale Solicitation Process (in French) — Application / notice of application
Outcome brief
Industries RAD: after Rocky Mountain's sale, $75,000 and a bankruptcy
The Beauce company behind Rocky Mountain bicycles and Faucher Industries sold both divisions under the CCAA in spring 2025, spent fifteen months collecting the deferred price, duty drawbacks and sales tax refunds, and assigned itself into bankruptcy on July 29, 2026 with $75,000 in cash against $34.55 million of listed liabilities, Roynat still owed $6.94 million.
Debtor
Industries RAD Inc. (doing business under the names of Faucher Industries and Rocky Mountain) and Rocky Mountain Bikes inc.
Monitor
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Rogers | Superior Court of Québec | 8 orders, Dec 2024 – Mar 2026 | 12 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorDébitrices | Lavery, De Billy, LLP | 19 Dec 2024 | Order · 19 Dec 2024 |
| CreditorDébitrices Débitrices | Lavery, De Billy, LLP | 4 Dec 2025 | Application · 4 Dec 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Wells Fargo Capital Finance Corporation Canada · in 13 casesMultiple movable hypothecs on the universality of the movable property of Industries RAD and Groupe Procycle inc. (RDPRM registrations 2010-2014), a movable and immovable hypothec of Gestion Immobilière RAD over the Immeubles (2024), General Security Agreements over Industries RAD's assets (Ontario, Alberta, BC PPSR; Washington DC UCC) and over Rocky Mountain US's assets (Delaware UCC); ranking subject to inter-creditor agreements with Investissement Québec ('Convention Wells IQ') and Roynat ('Convention Wells Roynat'); operating line facility limit stated at $55,000,000 — Stated as 'environ 3 · as of 29 Nov 2024 | $30.1M | Motion for an Initial Order, for an Amended and Restated Initial Order and an Order Approving a Sale Solicitation Process (in French) |
| Secured | Roynat Inc. · in 47 casesMovable hypothecs on universality of movable property of Industries RAD and Gestion Immobilière RAD (2021, 2023); first-rank movable hypothec on a life insurance policy on Raymond Dutil held by Gestion RAD; immovable hypothec of $8,500,000 (registration ceiling) on the Immeubles, ranking prior to Wells Fargo per inter-creditor agreement; General Security Agreement over Industries RAD assets (Ontario, Alberta, BC PPSR); ranking subject to 'Convention Wells Roynat' — Créance Roynat detailed as: Prêt Refinancement A $7,472,907; Prêt Refinancement B $4,880,690; Prêt Moule A $1,725,600; Prêt Moule · as of 31 Oct 2024 | $15.7M | Motion for an Initial Order, for an Amended and Restated Initial Order and an Order Approving a Sale Solicitation Process (in French) |
| Secured | Investissement Québec · in 99 casesTwo movable hypothecs on the universality of movable property of Industries RAD (RDPRM, registered May 29, 2018), ranking subject to 'Convention Wells IQ' — Créance IQ relates to interest-free 'Prêt D147296' (original principal $181,703). Excludes corporate guarantees. Other IQ loans to the Debtors have been fully repaid. — debtor: Industries RAD Inc. · as of 30 Nov 2024 | $30.6K | Motion for an Initial Order, for an Amended and Restated Initial Order and an Order Approving a Sale Solicitation Process (in French) |
5 transactions · 4 closed · 1 proposed — Both the Faucher Transaction and the Rocky Transaction closed following Court approvalTrustee Preliminary Administration Report · 17 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Les Câbles Ben-Mor Inc.the assets described in the Purchase Agreement and in Schedule "A" hereof (the "Purchased Assets") · asset sale · agreement 8 Apr 2025 | Sealed | Closed1 May 2025 | Trustee Preliminary Administration Report |
| Rocky Purchasersubstantially all the assets of the Rocky Mountain division of Industries RAD · asset sale · agreement 18 Apr 2025 | not statedPrice not stated in text; portion payable at closing and Deferred Consideration payable 6 months after closing | Proposed | 03 Fourth Report of the Monitor - May 1st, 2025 |
| 9539-5927 Québec Inc.the assets described in the Purchase Agreement and in Schedule "A" hereof (the " Purchased Assets ") · asset sale · agreement 18 Apr 2025 | Sealed | Closed9 May 2025 | Trustee Preliminary Administration Report |
| Rocky Purchaser, purchaser of the Rocky Mountain divisionthe assets comprising the Rocky Mountain division of Industries RAD · asset sale | not stated | Closed9 May 2025 | Seventh Report of the Monitor |
| purchaser of the Industries Faucher divisionthe assets comprising the Industries Faucher division of Industries RAD · asset sale | not stated | Closed1 May 2025outside 9 May 2025 | Seventh Report of the Monitor |
Unsecured creditors: no distribution. Roynat short.EstimatedTrustee Preliminary Administration Report · 17 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | secured creditors (Wells Fargo and Roynat) | — | shortfall | per the monitor | 02 Third Report of the Monitor - April 10, 2025 · 10 Apr 2025 |
| Secured | Roynat | — | shortfall | Estimatedper the monitor | 03 Fourth Report of the Monitor - May 1st, 2025 · 1 May 2025 |
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee Preliminary Administration Report · 17 Aug 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 30 Sep 2024 · per Internal consolidated financial statements of the Debtors, filed under seal (pièce R-8) · Consolidated - Industries RAD Inc. and Rocky Mountain Bikes Inc. (the Debtors) — Document states liabilities total $75.3M as at Sept 30, 2024; no corresponding total assets figure disclosed on these pages. Underlying financial statements (as at June 30, 2023, June 30, 2024, and Aug 31, 2024) were filed under seal.
Cumulative receipts
$379K
As at 11 Mar 2026Seventh Report of the Monitor
Cumulative disbursements
$13.8M
As at 10 Apr 202502 Third Report of the Monitor - April 10, 2025
Cash on hand
$75K
As at 17 Aug 2026Trustee Preliminary Administration Report
Professional fees to date
$134K
As at 11 Mar 2026Seventh Report of the Monitor
| Date | Document | File |
|---|---|---|
Trustee Preliminary Administration Report
| ||
| Notice of Bankruptcy and FIrst Meeting of Creditors | ||
Certificate of Appointment
| ||
Stay Extension Order, extending the stay of proceedings to September 11th, 2026
| ||
Seventh Report of the Monitor
| ||
Request to Extend the Stay Period (in French)
| ||
11 Stay Extension Order
| ||
05 - Sixth Report of the Monitor - December 4, 2025
| ||
Request to extend the suspension period (in French)
| ||
08 CCAA Termination and Monitor's Discharge Order
| ||
08 Ordonnance mettant fin au processus LACC et libérant le Contrôleur (en anglais)
| ||
09 Stay Extension Order
| ||
10 Order pursuant to the Wage Earner Protection Program Act
| ||
04 - Fifth Report of the Monitor - May 27, 2025
| ||
Request to extend the stay period, declare laid-off employees eligible for the Wage Earner Protection Program, and terminate of the CCAA process (in French)
| ||
Certificate of the Monitor (en français)
| ||
06 Rocky Mountain - Approval and Vesting Order
| ||
06 Rocky Mountain - Ordonnance d'approbation et de dévolution (en anglais)
| ||
07 Rocky Mountain - Order of cancellation and removal (in French)
| ||
03 Fourth Report of the Monitor - May 1st, 2025
| ||
Certificate of the Monitor
| ||
| Application for the issuance of an Approval and Vesting Order (en français) | ||
05 Faucher - Approval and Vesting Order
| ||
02 Third Report of the Monitor - April 10, 2025
| ||
| Application for the issuance of an Approval and Vesting Order and Assignment of Contracts (en français) | ||
Procedures for the Sale and Investment Solicitation Process - Amended
| ||
Investment Opportunity
| ||
Procedures for the Sale and Investment Solicitation Process
| ||
02 Amended and restated initial order (French Version) - January 6, 2025
| ||
| 03 Judgment - Amended and restated initial order and order approving the solicitation process (French Version) - January 6, 2025 | ||
04 SISP Approval Order - January 6, 2025
| ||
01 Second Report of the Monitor - January 3, 2025
| ||
| Service List - December 31, 2024 | ||
| Notice to Creditors - December 20, 2024 | ||
Initial Order
| ||
| List of creditors - December 19, 2024 | ||
Motion for an Initial Order, for an Amended and Restated Initial Order and an Order Approving a Sale Solicitation Process (in French)
| ||
Report of the Proposed Monitor
| ||
| Service List | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Industries RAD Inc. (doing business under the names of Faucher Industries and Rocky Mountain) and Rocky Mountain Bikes inc.” (CCAA), Superior Court of Québec · Commercial Division. Retrieved 20 September 2026, https://proceedings.ca/case/industries-rad-inc-doing-business-under-the-names-of-faucher-industries-and-rock
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/industries-rad-inc-doing-business-under-the-names-of-faucher-industries-and-rock
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.