Wildside Outdoors Inc.

Wildside Outdoors Inc. became bankrupt on July 3, 2024, with MNP Ltd. as Licensed Insolvency Trustee, under court file 24-3100040 in the Court of King's Bench of Alberta. The trustee reports 22 unsecured creditors owed approximately $604,066 on the company's books and records, the largest being Johnstons at $132,000, Bank of Montreal at $120,000, Crystal Hendrickson at $100,000, Continental Sports at $48,000, Canada Revenue Agency at $35,000, RH Properties Inc. at $27,000 and Escalade Sports at $22,000. CRA also asserts an approximate $61,000 deemed trust over all present and after-acquired property for payroll source deductions, and Driven Financial Technologies Corporation holds a general security agreement registered at the PPR for $1,000, which the trustee understands was paid in full before the date of bankruptcy. Neither secured creditor had filed a proof of claim as of the trustee's report. A balance sheet compiled by an independent external accountant showed $561,000 in assets against $734,000 in liabilities as at February 28, 2023, a deficit of $173,000; no statements were prepared for the 2024 year end or the stub period to bankruptcy. Continental Sports' June 2024 statement of claim for $48,441 is stayed.