#Claims
Meeting of creditors recorded as the sole milestone in the proceeding, dated to the September 24, 2024 commencement date; no further particulars are on the record.
Source: Creditor's Package
The Valley Fire Side Shop Inc.
FollowActive
- Proceeding
- BankruptcyNotice of Bankruptcy, First Meeting of Creditors (Subsection 102(1) of the Act)
- File
- 26486
Filings held1
Last activity24 Sep 2024
On the record727 days
Secured debt$78.9K
OverviewSummary updated
The Valley Fire Side Shop Inc., a New Brunswick company, went into bankruptcy on September 24, 2024, with MNP Ltd. as trustee under file no. 26486, and creditors were called to a first meeting under subsection 102(1) of the Act. The Statement of Affairs, as stated and estimated by the debtor as at September 23, 2024, puts assets at $63,000.00 against liabilities of $670,533.00, a deficiency of $607,533.00. Liabilities comprise $215,883.00 secured, $8,250.00 preferred and $446,400.00 unsecured. Secured positions include TD Canada Trust at $78,927.00, CBDC Charlottetown/Kings at $77,011.00, RBC at $28,360.00 and Mercedes-Benz Financial Services Canada at $7,728.00 against a 2019 Mercedes-Benz Sprinter. The Business Development Bank of Canada is the largest unsecured claim at $255,680.00, followed by Wolf Steel Ltd. at $31,399.00; CRA is owed $41,381.00 in HST and $23,857.00 in payroll taxes.
Proceedings AIAsk this case — answers cite the filings
Case updates1 dated entry
Parties
Debtor
The Valley Fire Side Shop Inc.
Trustee in bankruptcy
MNP
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | TD Canada Trust c/o FCT Default Solutions · in 53 casesBank loans except real property mortgage - Business Accounts — Loan incurred 03-Jun-2019 — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $78.9K | Creditor's Package |
| 4 | Secured | CBDC Charlottetown/Kings (Attn: Geoff Knight)Business loan — Listed as secured creditor no. 1 on Statement of Affairs, dated 14-Dec-2023 — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $77K | Creditor's Package |
| 4 | Secured | RBC Royal Bank / Banque Royale (Attn c/o Bankruptcy Highway 101) · in 56 casesBank Loans except real property mortgage - Operating Line, Visa, Credit Line — Loan incurred 15-Aug-2018 — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $28.4K | Creditor's Package |
| 4 | Secured | Mercedes-Benz Financial Services Canada Corporation · in 30 casesFinance Company Loans - Vehicle Loan; asset securing liability listed as item #01 (2019 Mercedes-Benz Sprinter) — Loan incurred 10-Aug-2020 — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $7.73K | Creditor's Package |
| 6 | Landlord preferred | Horizon Management LimitedRent Arrears; also has $8,250.00 listed under preferred/priority column with ground for priority marked 'Rent' — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $15.1K | Creditor's Package |
| 6 | Landlord preferred | Horizon Management Limited (preferred portion)preferred/priority claim, rent arrears (ground for priority: Rent) — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $8.25K | Creditor's Package |
| 8 | Unsecured | Business Development Bank of Canada, Atlantic Special AccountsBank loans except real property mortgage - Business Loan — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $256K | Creditor's Package |
| 8 | Unsecured | CRA - Tax-AtlanticHST taxes (Federal/Provincial/Municipal) — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $41.4K | Creditor's Package |
| 8 | Unsecured | Wolf Steel Ltd.Supplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $31.4K | Creditor's Package |
| 8 | Unsecured | CRA - Tax-AtlanticPayroll taxes (Federal/Provincial/Municipal), incurred 01-Aug-2024 — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $23.9K | Creditor's Package |
| 8 | Unsecured | Gordon KraushaarSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $17.7K | Creditor's Package |
| 8 | Unsecured | Weber Stephen (Canada) CoSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $14.4K | Creditor's Package |
| 8 | Unsecured | Kerr Control Attn Rachel SibleySupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $12.6K | Creditor's Package |
| 8 | Unsecured | Kevin CampbellSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $10K | Creditor's Package |
| 8 | Unsecured | National Energy Equipment Inc. · in 4 casesSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $6.24K | Creditor's Package |
| 8 | Unsecured | Compact Appliances LimitedSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $6.24K | Creditor's Package |
| 8 | Unsecured | Olympia Chimney of Canada Inc.Supplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $5.92K | Creditor's Package |
| 8 | Unsecured | Source Atlantic · in 8 casesSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $5.67K | Creditor's Package |
| 8 | Unsecured | American Express c/o FCT Default Solutions · in 46 casesCredit Cards Other Issuers — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $4.39K | Creditor's Package |
| 8 | Unsecured | LeRoys Heating Services Ltd.Supplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $3.25K | Creditor's Package |
| 8 | Unsecured | PowrmaticSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $1.92K | Creditor's Package |
| 8 | Unsecured | Traeger Pellet Grills Canada Inc.Supplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $1.72K | Creditor's Package |
| 8 | Unsecured | Bell Canada · in 298 casesPhone Service — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $479 | Creditor's Package |
| 8 | Unsecured | Livingston International · in 8 casesSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $453 | Creditor's Package |
| 8 | Unsecured | NB Power (Attn: Natalie Lejeune) · in 14 casesPower service — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $335 | Creditor's Package |
| 8 | Unsecured | Linde Canada Inc. · in 51 casesSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $224 | Creditor's Package |
| 8 | Unsecured | WorkSafeNB / Travail sécuritaire NB - Head Office (Attn: Thomas Wood) · in 4 casesWorkers' Compensation — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $1 | Creditor's Package |
| 8 | Unsecured | Northrup PropertiesSupplier — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $1 | Creditor's Package |
| 8 | Unsecured | CRA - Tax-AtlanticCorporate tax (Federal/Provincial/Municipal); negative value as stated on the form — debtor: The Valley Fire Side Shop Inc. · as of 23 Sep 2024 | $-11.1K | Creditor's Package |
Estate financialsReported figures — never derived
Total assets at filing$63K
Total liabilities at filing$671K
As at 23 Sep 2024 · per Statement of Affairs as stated and estimated by bankrupt/debtor · The Valley Fire Side Shop Inc. (entity-level, not consolidated) — Deficiency of $607,533.00; secured creditors total $215,883.00, preferred creditors/priorities $8,250.00, unsecured creditors $446,400.00, contingent/trust claims $0.00; totals per Form 78 Statement of Affairs list of liabilities
Documents1 filing
| Date | Document | File |
|---|---|---|
Creditor's Package
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “The Valley Fire Side Shop Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/the-valley-fire-side-shop-inc