British Columbia · Bankruptcy
Notice of Bankruptcy
Notice to creditors · 19 December 2025
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 filing15 verified
- appointeeCrowe MacKay & Company Ltd.
- appointee roletrustee
- commencement date19 December 2025
- court file no11-3313270
- provinceBritish Columbia
- financial positionnote: Form 78 states total liabilities $688,892.37 (secured $65,075.22; preferred $0.00; unsecured $622,169.93; contingent/trust $1,647.22) and total assets $115,919.46. The form's own summary shows a 'Surplus' figure of 572,972.91 on the liabilities side while the assets side states 'Deficiency' of -572,972.91; the amount is a deficiency (liabilities exceed assets). Assets include cash $19,541.46, inventory $83,427.00, tools/equipment $9,050.00, furnishings $1,400.00, IP $1.00, electronics $2,500.00. Reasons for financial difficulty ticked: negative market conditions, lack of working capital/funding, overhead increasing, competition, economic downturn, increased cost of doing business. · page: 2 · as at: 2025-12-18 · basis: Statement of Affairs (Form 78, Corporate Bankruptcy) as stated by the bankrupt/debtor, assets at estimated realizable value; unaudited · scope: J&E Fitness Inc. (single entity), bankruptcy date stated as 18th (Form 78) / 19th (Form 68) December 2025 · currency: CAD · total assets: 115919.46 · total liabilities: 688892.37
- unsecured creditorsnote: Debtor-reported total of the unsecured column, itemised on pages 4-20 across 157 creditors; many trade creditors carry a placeholder amount of $1.00 (amount unknown). Preferred creditors, securities and priorities stated as $0.00. Largest individually: Specialized Bicycle Components Canada, Inc. $426,573.00 unsecured; Santa Cruz Bicycles, LLC $24,456.73; RBC Royal Bank $17,716.87; CRA GST/HST $14,258.44; Business Development Bank of Canada $100,000.00. Individual entries not repeated here. · page: 2 · as of: 2025-12-18 · basis: Statement of Affairs (Form 78) as stated by the bankrupt/debtor; list of liabilities total, unsecured column · amount: 622169.93 · debtor: J&E Fitness Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Debtor-reported; no security indicated. · page: 6 · as of: 2025-12-18 · basis: Bank loan except real property mortgage, listed as unsecured in Statement of Affairs · amount: 100000 · debtor: J&E Fitness Inc. · creditor: Business Development Bank of Canada - Vancouver · currency: CAD
- secured creditorsnote: Total claim shown as $3,294.44 on the line: $1,647.22 in the Secured column and $1,647.22 in the Contingent/trust claims column. Statement of Affairs lists this amount under 'Contingent, trust claims or other liabilities' (1,647.22). Deemed trust class. · page: 8 · as of: 2025-12-18 · amount: 1647.22 · debtor: J&E Fitness Inc. · creditor: Canada Revenue Agency (CRA - Tax - Pacific) · currency: CAD · security: Employee source deductions (deemed trust); asset securing the liability shown as '101,505,11 01,501,503 ,504' (asset line numbers)
- unsecured creditorsnote: Listed as unsecured by the debtor; no priority ground stated. · page: 8 · as of: 2025-12-18 · basis: Sales taxes (Taxes), listed in unsecured column in Statement of Affairs · amount: 14258.44 · debtor: J&E Fitness Inc. · creditor: CRA - GST/HST - Vancouver · currency: CAD
- secured creditorsnote: Secured column shows a nominal $1.00; the remaining $17,716.87 is listed as unsecured, total claim $17,717.87. Estimated surplus from security shown as $50,844.24. · page: 16 · as of: 2025-12-18 · amount: 1 · debtor: J&E Fitness Inc. · creditor: RBC Royal Bank c/o Bankruptcy Highway.com · currency: CAD · security: Asset securing the liability shown as '101,505,11 01,501,503 ,504' (asset line numbers); bank loan except real property mortgage, dated 24-Mar-2021
- unsecured creditorsnote: See secured entry for the $1.00 secured portion. · page: 16 · as of: 2025-12-18 · basis: Bank loan, debt dated 24-Mar-2021; unsecured portion as reported · amount: 17716.87 · debtor: J&E Fitness Inc. · creditor: RBC Royal Bank c/o Bankruptcy Highway.com · currency: CAD
- unsecured creditorspage: 17 · as of: 2025-12-18 · basis: Accounts payable as reported in Statement of Affairs · amount: 24456.73 · debtor: J&E Fitness Inc. · creditor: Santa Cruz Bicycles, LLC · currency: CAD
- secured creditorsnote: Total claim $490,000.00 of which $63,427.00 secured and $426,573.00 unsecured; debt dated 01-Feb-2024. Estimated deficit from security shown as -426,573.00. Per debtor's Statement of Affairs, not a proven claim. · page: 18 · as of: 2025-12-18 · amount: 63427 · debtor: J&E Fitness Inc. · creditor: Specialized Bicycle Components Canada, Inc. · currency: CAD · security: Asset securing the liability: line 502 (Other - Inventory (Specialized Bicycles), estimated realizable value $63,427.00)
- unsecured creditorsnote: Remaining $63,427.00 shown as secured against inventory (line 502). · page: 18 · as of: 2025-12-18 · basis: Accounts payable, debt dated 01-Feb-2024; unsecured portion of $490,000.00 total claim as reported in Statement of Affairs · amount: 426573 · debtor: J&E Fitness Inc. · creditor: Specialized Bicycle Components Canada, Inc. · currency: CAD