The Hardwood Outlet Group of Companies

The Hardwood Outlet Group of Companies made an assignment in bankruptcy on November 21, 2024, and the Ontario estate remains active under Crowe Soberman Inc. as licensed insolvency trustee. The statement of affairs for 2456657 Ontario Ltd., as at November 18, 2024, put assets at $117,847.99 against liabilities of $452,575.06, a deficiency of $334,727.07, with preferred and trust claims at nil. TD Canada Trust holds the largest claim at $255,876.88 under a CDAP loan of June 10, 2024 charging inventory and accounts receivable, of which $72,602.26 is treated as secured and $183,274.62 as an unsecured shortfall. RBC Royal Bank is fully secured for $45,244.73 on a 2024 GMC Terrain and claims a further $56,205.08 on a CEBA loan. Dragona Flooring Supplies is the largest trade creditor at $59,291.54.