Ontario · Proposal

Creditors Package

Meeting materials · 19 August 2026

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What we verified from this filing43 verified

appointeeMNP Ltd.
appointee roleLicensed Insolvency Trustee
commencement date20 August 2026
unsecured creditorsnote: Separate account from other 100106166 Ontario Inc. entry · page: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 106899.81 · debtor: Laundry Collective Inc. · creditor: 100106166 Ontario Inc. (Account 2) · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 66308.42 · debtor: Laundry Collective Inc. · creditor: 100106166 Ontario Inc. (Account 1) · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 250000 · debtor: Laundry Collective Inc. · creditor: 1060400 Ontario Inc · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 100000 · debtor: Laundry Collective Inc. · creditor: 1388303 Ontario Inc · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 23296.57 · debtor: Laundry Collective Inc. · creditor: BMO Bank of Montreal (formerly MBanx) · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 400000 · debtor: Laundry Collective Inc. · creditor: Cambridge Aggregate Services Inc · currency: CAD
unsecured creditorsnote: Shareholder-related creditor entity (Isley family investment corp) · page: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 115000 · debtor: Laundry Collective Inc. · creditor: Chris Isley Investment Corporation · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 100000 · debtor: Laundry Collective Inc. · creditor: Corner 50 Inc. · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 771908.01 · debtor: Laundry Collective Inc. · creditor: Equal Parts Hospitality Inc · currency: CAD
unsecured creditorsnote: Shareholder-related creditor entity (Isley family investment corp) · page: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 115000 · debtor: Laundry Collective Inc. · creditor: Geoff Isley Investment Corporation · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 51975.7 · debtor: Laundry Collective Inc. · creditor: Gowling WLG (Canada) LLP. Recovery Services · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 300000 · debtor: Laundry Collective Inc. · creditor: High Park Investments Inc · currency: CAD
unsecured creditorsnote: Individual is a Director of the Company (related party) · page: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 503971.5 · debtor: Laundry Collective Inc. · creditor: Jason Cassis · currency: CAD
unsecured creditorspage: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 18000 · debtor: Laundry Collective Inc. · creditor: Jerrett Young · currency: CAD
unsecured creditorsnote: Listed as 'Laundry Deisgn Works' in source document · page: 2 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 174967.79 · debtor: Laundry Collective Inc. · creditor: Laundry Design Works · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 59375 · debtor: Laundry Collective Inc. · creditor: Ritchie Family Company Inc · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 250000 · debtor: Laundry Collective Inc. · creditor: Theodore Rabinovitch Medical Professional Corp · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 200000 · debtor: Laundry Collective Inc. · creditor: TTKB Inc · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 200900 · debtor: Laundry Collective Inc. · creditor: Urban Reform Realty Inc · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 405784.86 · debtor: Laundry Collective Inc. · creditor: Laundry Investco 1 Inc · currency: CAD
unsecured creditorsnote: Individual is a Director of the Company (related party) · page: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 503971.5 · debtor: Laundry Collective Inc. · creditor: Matthew Opferkuch · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 100000 · debtor: Laundry Collective Inc. · creditor: Michael Lucas · currency: CAD
unsecured creditorsnote: Shareholder-related creditor entity (Isley family investment corp) · page: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 115000 · debtor: Laundry Collective Inc. · creditor: Mike Isley Investment Corporation · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 100000 · debtor: Laundry Collective Inc. · creditor: Paul Neal · currency: CAD
unsecured creditorsnote: This entity is identified elsewhere in the document as the Secured Creditor holding general security; listed here on the unsecured creditors list matching the same $1,000,000 amount reported as the secured claim · page: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 1000000 · debtor: Laundry Collective Inc. · creditor: Petert Holdings Inc · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 36725 · debtor: Laundry Collective Inc. · creditor: Roher Holdings Inc · currency: CAD
unsecured creditorspage: 3 · as of: NOI filing date · basis: List of Creditors with claims of $250 or more · amount: 32458.12 · debtor: Laundry Collective Inc. · creditor: X-Pertax Services · currency: CAD
courtSUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY)
proceeding typebia_proposal
provinceONTARIO
statutory basisBankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
statutory basisDivision 1, Part III of the Bankruptcy and Insolvency Act
financial positionnote: Document provides net income (loss) by entity for 2025 (consolidated net loss of $717,068), not a balance sheet with total assets/liabilities. Sole assets of Laundry are shares in five subsidiaries; Hotel Subsidiaries' sole assets are leasehold improvements (no value in bankruptcy) and furniture (nominal value); Management Subsidiary has no assets. · page: 18 · as at: 2025-12-31 · basis: Unaudited financial information provided by Company's representatives; net income/loss summary by entity, not a full balance sheet · scope: Consolidated group: Laundry Collective Inc. and its four Hotel Subsidiaries (Laundry August Inc., Laundry Gaslight Inc., Laundry Station Park Inc., Laundry Circa Inc.) · currency: CAD
secured creditorsnote: Amount stated as '$1,000,000 plus ongoing interest and legal costs'; Proposal does not amend or affect existing payment/security arrangements with this Secured Creditor, so this creditor has no claim in the Proposal. Company defaulted on credit facility interest; Secured Creditor issued Notices of Intention to enforce security dated 2026-05-12; forbearance agreement in place requiring court approval of Proposal by 2026-09-30. · page: 19 · as of: 2026-08-19 · amount: 1000000 · debtor: Laundry Collective Inc. (and Hotel Subsidiaries) · creditor: PeterT Holdings Inc. · currency: CAD · security: General security against the Company's assets (registered in Ontario PPSR); also holds general security against the Hotel Subsidiaries' assets
unsecured creditorsnote: Reported by Company as $nil; however one Hotel Subsidiary owes CRA approximately $75,000 in unpaid HST (not Laundry Collective Inc. itself) · page: 20 · as of: 2026-08-19 · basis: Trustee's Report of Trustee on Proposal, Section G - Creditors' Claims · amount: 0 · debtor: Laundry Collective Inc. · creditor: Crown Claims (aggregate as reported) · currency: CAD
unsecured creditorsnote: Reported as $nil · page: 20 · as of: 2026-08-19 · basis: Trustee's Report of Trustee on Proposal, Section G - Creditors' Claims · amount: 0 · debtor: Laundry Collective Inc. · creditor: Employee Claims (aggregate as reported) · currency: CAD
unsecured creditorsnote: Related-party shareholder loan claims; to be fully compromised and reduced to $0.00 upon completion of the Proposal in exchange for remaining as shareholders · page: 20 · as of: 2026-08-19 · basis: Trustee's Report of Trustee on Proposal, Section G - Creditors' Claims · amount: 1284593 · debtor: Laundry Collective Inc. · creditor: Continuing Shareholders (aggregate as reported) · currency: CAD
unsecured creditorsnote: Aggregate figure differs from the itemized List of Creditors total of $6,101,542.28 on Form 92; itemized list is separately extracted · page: 20 · as of: 2026-08-19 · basis: Trustee's Report of Trustee on Proposal, Section G - Creditors' Claims · amount: 3816950 · debtor: Laundry Collective Inc. · creditor: Ordinary Creditors (aggregate as reported) · currency: CAD
unsecured creditorsnote: Preferred claims per BIA s.136(1); reported as $nil · page: 20 · as of: 2026-08-19 · basis: Trustee's Report of Trustee on Proposal, Section G - Creditors' Claims · amount: 0 · debtor: Laundry Collective Inc. · creditor: Preferred Claims (aggregate as reported) · currency: CAD
recovery outcomeentries: basis: plan · quote: Ordinary Creditors will receive payment of 25% of their proven claims. · pct of: proven_claims · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: trustee · class label: Ordinary Creditors · interim final: unstated · conditional on: 60% of Ordinary Creditors' Claim Payment within six months of Proposal Approval Order becoming final; remaining 40% within one year · claims qualifier: unstated; basis: plan · quote: Each holder of a Continuing Shareholders' Claim shall receive no payment from the Proposal but each Continuing Shareholders' Claim shall be fully compromised and reduced to $0.00 upon full completion of the Proposal; · pct of: unstated · outcome: nil · class key: equity · stated by: trustee · class label: Continuing Shareholders · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Crown Claims: Any Crown Claims, inclusive of penalties and interest up to the Filing Date, will be paid in full within six (6) months of the Proposal Approval Order becoming Final, or as may otherwise be arranged with the Crown. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Crown Claims · interim final: unstated · conditional on: within six (6) months of the Proposal Approval Order becoming Final · claims qualifier: unstated; basis: plan · quote: Preferred Claims: Any Preferred Claims, without interest, will be paid in full within six (6) months of the Proposal Approval Order becoming Final, or as may otherwise be arranged with individual Preferred Creditors. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Preferred Claims · interim final: unstated · conditional on: within six (6) months of the Proposal Approval Order becoming Final · claims qualifier: unstated; basis: plan · quote: Employee Claims: The Employee Claims will be paid in full within six (6) months of the Proposal Approval Order becoming Final, or as may otherwise be arranged with individual holders of such Claims. · pct of: unstated · outcome: paid_in_full · stated by: trustee · class label: Employee Claims · interim final: unstated · conditional on: within six (6) months of the Proposal Approval Order becoming Final · claims qualifier: unstated; basis: liquidation_alternative · quote: Therefore, all Unsecured Creditors will receive $nil on their proven claims in a bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-08-20 · table missing: