British Columbia · CCAA
Third Report of the Monitor - Filed October 19, 2026
Court officer report · 19 October 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing11 verified
- secured creditorsnote: Outstanding balance not stated in the pages provided. The Interim Facility (up to $2,000,000) was never drawn. · page: 3 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Bank of Montreal, as administrative agent of a syndicate of secured lenders (the Syndicate) · currency: CAD · security: Syndicate described as the main economic stakeholder; the Agent holds registrations against the Debtors' assets. No outstanding balance is stated on these pages.
- secured creditorsnote: Approximately 11,135 creditors per books and records. After excluding de minimis and stale balances the pool is about $2.1M (801 creditors). Claims are unconfirmed pending the proposed Claims Process, in which the Monitor will accept, revise or disallow them. Subrogated claims by Payment Processors for chargebacks are possible. Amounts given as of the date of the Third Report. · page: 11 · as of: 2026-10-19 · amount: 2900000 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Secured BC Customers (BC Sale of Goods Act s.75 security interest on unapplied deposits) · currency: CAD · security: Priority statutory security interest under s.75 BCSGA over corresponding goods and accounts holding sale proceeds
- unsecured creditorsnote: Approximate figure as at the Filing Date. Some deposits may have been applied during the liquidation, so the current balance is not stated on these pages. · page: 11 · as of: 2026-04-17 · basis: Customer deposit liabilities from customers in provinces other than BC; no equivalent security interest outside BC · amount: 9800000 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Non-BC customer deposit holders (Non-BC Deposits) · currency: CAD
- unsecured creditorsnote: Approximately 2,135 creditors per books and records. After excluding de minimis and stale balances the pool is about $0.3M (113 creditors). · page: 12 · as of: 2026-10-19 · basis: Remaining BC deposits per Debtors' books and records (businesses, non-personal-use purchases, credit balances) · amount: 700000 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Unsecured BC Customers (BC deposit holders without BCSGA priority) · currency: CAD
- secured creditorsnote: About $120 thousand of invoices outstanding for product delivered in Canada, of which only about $35 thousand was delivered in BC. The Monitor holds a security opinion (subject to qualifications) that a security interest exists. Notice was sent by courier rather than registered mail, but the Agent does not contest it. Claim and supporting invoices requested for validation, so the amount is not yet confirmed. · page: 27 · as of: 2026-10-19 · amount: 120000 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: F&P (PMSI supplier) · currency: CAD · security: Purchase money security interest in F&P inventory supplied and financed, registered in the BC PPR only
- secured creditorsnote: The Monitor intends to distribute to PMSI Creditors once their amounts are confirmed. Other PMSI Creditors are referenced only generally on these pages; no amounts are stated. · page: 27 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Outstanding PMSI Obligations (other PMSI Creditors) · currency: CAD · security: PMSI claims over inventory
- secured creditorsnote: Charge amount, not a balance. Professional fees are accrued but do not exceed the charge, and funds on hand are sufficient to pay them. · page: 28 · as of: 2026-04-17 · amount: 500000 · debtor: All Debtors (all Property) · creditor: Administration Charge · currency: CAD · security: Court-ordered charge over all Property
- secured creditorsnote: Statutory priority claim (WEPP) for unpaid wages, vacation pay, and severance and termination pay, up to the WEPPA statutory maximum. · page: 28 · as of: 2026-10-19 · amount: 570000 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Service Canada (WEPP) – Outstanding WEPPA Obligations · currency: CAD · security: Statutory priority under BIA ss.81.3 and 81.4, ranking ahead of the Syndicate and other secured creditors to the extent of the value of the applicable assets
- secured creditorsnote: All amounts payable to or from Hilco have been paid or received in full after the Final Reconciliation. The Monitor is seeking to terminate the charge. · page: 29 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Hilco Canada Holdings, ULC – Liquidation Agent Charge · currency: CAD · security: Charge on Merchandise and Owned FF&E, subordinate to the Administration Charge and the Interim Lender's Charge
- secured creditorsnote: The Interim Facility (up to $2,000,000) was not drawn and no advances were made. The Monitor is seeking to terminate the charge. · page: 29 · as of: 2026-10-19 · amount: 0 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: Interim Lender (Syndicate) – Interim Lender's Charge · currency: CAD · security: Court-ordered Interim Lender's Charge over all Property
- secured creditorsnote: This is the charge maximum, not a balance. $518,133 has been paid to key employees, representing all KERP obligations due, and the Monitor is seeking to terminate the charge. · page: 29 · amount: 550700 · debtor: Coast Wholesale Appliances Inc. and related Debtors · creditor: KERP Charge (key employees) · currency: CAD · security: KERP Charge over Property up to a maximum of $550,700