WYNIT Distribution, LLC and six affiliates, including Canadian local debtor WD Navarre Canada, ULC, are the subject of active CCAA recognition proceedings in the Ontario Superior Court of Justice, commenced September 21, 2017 under court file CV-17-582329-00CL, with KSV Kofman Inc. as Information Officer. The group's US petitions were filed September 8, 2017, when approximately US$76 million was outstanding to the Prepetition Senior Lenders, secured over all of the debtors' assets, including the Canadian assets, under the Ontario PPSA; Chaitons LLP confirmed that security valid and perfected. Interim DIP advances of US$3.5 million, authorised by the Interim DIP Order, were increased to US$8 million by a Second Interim DIP Order dated September 27, 2017, under a DIP facility committed up to $15 million and secured by a super-priority DIP Lender's Charge in both the United States and Canada.
The officer filed report no. Sixth Report. The report notes that over the course of the Chapter 11 proceedings the Debtors liquidated substantially all of their assets (inventory and accounts receivable) and have now ceased business operations, with the case converting from Chapter 11 to Chapter 7 and a Chapter 7 trustee appointed to wind up remaining matters.
The officer filed report no. Fifth Report. The Debtors shut down operations in late August 2017 and are liquidating their remaining assets; the Liquidation and Encore transactions have closed, the Remaining Inventory is being sold with Conway's assistance, and there are no employees remaining at the Mississauga Premises, which the Debtors are seeking to reject the lease for.
The officer filed report no. Fourth Report. The Debtors ceased primary operations in the US and Canada in August 2017 and are liquidating their assets. The Local Debtor's Mississauga facility has limited activity and eight Canadian employees remain. The Encore software business is being sold through a stalking horse process; the auction produced a $1.7 million bid from Sereno Ventures.
The officer filed report no. Third Report. The Debtors' Transaction (a liquidation sale of the Assets) closed on October 23, 2017, and the Debtors are monetizing their remaining assets (the Encore business and inventory subject to alleged consignment arrangements). Activity at the warehousing facilities, including the Mississauga Premises, has been limited since late August 2017, and eight Canadian employees remain.
The officer filed report no. Supplement to the Second Report. The Debtors conducted a sale Auction on October 17, 2017 with nine prospective bidders; no bid superior to the Stalking Horse Bid was submitted, so the Liquidator was declared the Successful Bidder. The Information Officer recommends the court grant the relief sought by the Foreign Representative, conditional on the US Court issuing the related orders.
The officer filed report no. Second Report. The Debtors ceased primary operations in the US and Canada in August 2017 and are liquidating substantially all assets via a stalking horse liquidation agreement with a Hilco/Gordon Brothers joint venture; limited activity remains at the Mississauga facility, with eight Canadian employees.
Opened the Ontario recognition proceeding under the CCAA on WYNIT Distribution, LLC's application, appointing KSV Kofman Inc. as Information Officer for the seven-debtor group.
Application filed in the Ontario Superior Court of Justice, commencing the proceedings against WYNIT Distribution, LLC and the affiliated respondent entities under file CV-17-582329-00CL.
Prepetition Senior Lenders (syndicate under Prepetition Credit Facility)as of date of filing of the petitions (September 8, 2017) — Security over all of the Debtors' assets, including all assets of the Local Debtor, registered under Ontario PPSA; independent security opinion obtained by Chaitons LLP confirming valid and perfected security interest — Approximately $76 million outstanding as at petition date; DIP Facility roll-up applies repayments first against this facility; security opinion confirmed valid and perfected (not merely pending) — debtor: All Debtors, including WD Navarre Canada, ULC (Local Debtor); WYNIT Holdings, Inc. as guarantor
$76M USD
First Report of the Information Officer dated September 29, 2017
4
Secured
4
Secured
8
Unsecured
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3 more claims in 2 classes The stack holds Secured and Unsecured claims.
GBH Wynit, LLCStalking horseany assets located in Canada sold by the Agent pursuant to the Sale Agreement (the "Canadian Assets") · asset sale · agreement 16 Oct 2017
Sereno Ventures, LLCall of the Sellers' right, title and interest in and to the assets located in Canada and being sold pursuant to the Sale Agreement (the "Canadian Assets") · asset sale · agreement 9 Nov 2017
Sixth Report of the Information Officer dated January 18, 2018
Operational summaryThe report notes that over the course of the Chapter 11 proceedings the Debtors liquidated substantially all of their assets (inventory and accounts receivable) and have now ceased business operations, with the case converting from Chapter 11 to Chapter 7 and a Chapter 7 trustee appointed to wind up remaining matters.
Cash on hand · Disbursements · Financial positionSubscribers
Supplement to the Second Report of Information Officer dated October 19, 2017
Operational summaryThe Debtors conducted a sale Auction on October 17, 2017 with nine prospective bidders; no bid superior to the Stalking Horse Bid was submitted, so the Liquidator was declared the Successful Bidder. The Information Officer recommends the court grant the relief sought by the Foreign Representative, conditional on the US Court issuing the related orders.
Cash on hand · Disbursements · Financial positionSubscribers
Second Report of Information Officer dated October 17, 2017
Operational summaryThe Debtors ceased primary operations in the US and Canada in August 2017 and are liquidating substantially all assets via a stalking horse liquidation agreement with a Hilco/Gordon Brothers joint venture; limited activity remains at the Mississauga facility, with eight Canadian employees.
Cash on hand · Disbursements · Financial positionSubscribers
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/wynit-distribution-llc-wd-navarre-canada-ulc-wd-navarre-distribution-llc-wd-enco
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