Ontario · NOI
Second Report of the Proposal Trustee November 15, 2023
Court officer report · 15 November 2023
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What we verified from this filing6 verified
- financial positionnote: Figures from First Report (Appendix F), in $000s: Accounts receivable 5,411; Inventory 10,691; Receivable from parent company 1,476; FF&E 2,274; Goodwill 3,305; Other assets 1,909; Operating line 4,000; Accounts payable and accrued liabilities 15,392; Customer deposits 4,544; Leasehold improvements 2,473; Shareholders' Equity (1,343). As of Filing Date (November 9, 2023), Company's unsecured liabilities totaled $13.8 million per preliminary list of creditors, excluding off-balance sheet obligations; customer deposits totaling approximately $4.5 million. · as at: 2023-09-30 · basis: preliminary unaudited financial position · scope: entity, Bad Boy Furniture Warehouse Limited (from First Report, Appendix F) · currency: CAD · total assets: 25066000 · total liabilities: 26409000
- operational summaryThe Company is proceeding with a liquidation sale of its inventory and FF&E across its retail stores via a consulting agreement with Infinity Asset Solutions, while continuing to operate its Builder Business and pursue restructuring options under an extended proposal period.
- report date15 November 2023
- report noSecond Report
- sale advisorInfinity Asset Solutions Inc.
- sale outcometext: The Company is considering a liquidation sale in certain or all of its stores so that it can wind-down on an orderly basis the inefficient portions of its business · scope: liquidation · status: liquidation_in_progress