British Columbia · CCAA
Second Report of the Monitor - Filed August 5, 2026
Court officer report · 5 August 2026
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What we verified from this filing10 verified
- secured creditorsnote: Pre-filing secured debt amount is not stated in this Monitor's Second Report. The Monitor expects only a partial distribution to the Syndicate and does not expect any funds to remain for unsecured creditors following the claims process (para 12.4). A DIP interim facility of up to $2,000,000 was authorized but was not drawn and no advances were made (paras 1.2.5, 1.3). · page: 3 · debtor: Coast Wholesale Appliances Inc., Coast Holdings (GP) Ltd., Coast Limited Partnership and Coast Holdings Limited Partnership (Debtors) · creditor: Bank of Montreal, as administrative agent for a syndicate of secured lenders · currency: CAD · security: pre-filing secured credit facility of a syndicate of secured lenders; petitioner in the CCAA proceedings
- secured creditorsnote: Filing Date balance, exact from table 6.2 ($s in 000s: 7,043); prose approximates ~$7.0 million (para 6.1). Reduced to $3,516,000 as of the Second Report (~$2.8M retail + $700K commercial, para 6.2) after deposits were applied against inventory purchases during the liquidation; unapplied BC deposits (~$2,851,000 per CFF #3) remain subject to a BC customer claims process anticipated in fall 2026. Aggregate consumer claims; individual customers not named. · page: 10 · as of: 2026-04-17 · amount: 7043000 · debtor: Coast Wholesale Appliances Inc. et al. (Debtors) · creditor: British Columbia customer deposits (secured consumer claims, aggregate) · currency: CAD · security: security interest for individual consumers who paid deposits under the BC Sale of Goods Act (para 6.4)
- unsecured creditorsnote: Filing Date balance, exact from table 6.2 ($s in 000s: 9,753 'Total Other Deposits'); prose approximates ~$9.8 million (para 6.1). Reduced to $5,988,000 as of the Second Report (~$6.0 million, para 6.2) after deposits were applied during the liquidation. Provincial legislation outside BC does not grant a security interest for undelivered prepaid goods, so these rank as unsecured. Aggregate consumer claims; individual customers not named. · page: 10 · as of: 2026-04-17 · basis: customers outside British Columbia who paid prepaid deposits; per the Monitor these constitute unsecured claims against the Debtors (para 6.5) · amount: 9753000 · debtor: Coast Wholesale Appliances Inc. et al. (Debtors) · creditor: Non-BC customer deposits (unsecured consumer claims, aggregate) · currency: CAD
- secured creditorsnote: ESTIMATE / FORECAST: Monitor's CFF #3 estimate of ~$1.1 million (para 12.2.3; CFF #3 line 'PMSI Creditors' = 1,140 in $000s). Amounts to be reviewed and confirmed following the Final Reconciliation; distribution subject to a security review by legal counsel and Court approval. Projected disbursement, not a confirmed balance. · page: 18 · amount: 1140000 · debtor: Coast Wholesale Appliances Inc. et al. (Debtors) · creditor: Purchase money security interest (PMSI) creditors · currency: CAD · security: purchase money security interests secured against select inventory (PMSI class)
- unsecured creditorsnote: PREFERRED / PRIORITY class (ranks ahead of ordinary unsecured). ESTIMATE / FORECAST: Monitor's CFF #3 estimate of ~$572K (para 12.2.3; CFF #3 line 'WEPPA - Priority' = 572 in $000s). Projected priority payment, not a confirmed balance. · page: 18 · basis: priority employee claims (WEPPA); the Debtors were declared to meet the WEPPA criteria (para 1.4.3) · amount: 572000 · debtor: Coast Wholesale Appliances Inc. et al. (Debtors) · creditor: Wage Earner Protection Program (WEPPA) priority employee claims · currency: CAD
- closing confirmedscope: Owned FF&E · outcome: completed · effective: 2026-07-09 · date basis: stated
- process resultsbids: 4 · note: four non-binding offers received in the Commercial Marketing Process
- purchaserTrail Appliances Ltd.; price: note: An estimate of net proceeds from the Owned FF&E sale has been reflected in CFF #3 · sealed: false · scope: Owned FF&E, including warehouse equipment, racking, forklifts, and other fixed assets · status: closed · name note: purchaser(s) of the Debtors' Owned FF&E sold via auction, unnamed · structure: auction · name source: operative · relationship: unstated
- sale advisorHilco Canada Holdings, ULC; Able Auctions Ltd.
- sale outcometext: The Monitor selected a successful bid from Trail Appliances Ltd. for the Intangible Assets and is seeking Court approval · scope: ancillary · status: pending_approval