Ontario · CCAA
Fourth Report of the Monitor dated October 29, 2025
Court officer report · 29 October 2025
Also filed as: Fourth Report of the Monitor dated October 29, 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 filing14 verified
- report date29 October 2025
- report noFourth Report
- commencement date15 May 2025
- courtOntario Superior Court of Justice (Commercial List)
- court file noCV-25-00743383-00CL
- proceeding typeCCAA proceeding
- provinceOntario
- statutory basisCompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (CCAA)
- secured creditors855 Ontario, an arm's length third party, is the Applicants' principal secured creditor; as of October 24, 2025 it was owed approximately $22 million, including $3.1 million advanced under the DIP Facility. Two equipment lenders also hold security interests against machines and/or vehicles.
- operational summaryThe Applicants' activities since the Third Report included carrying on business in the ordinary course, marketing, dealing with suppliers, corresponding regarding DIP advances, preparing weekly DIP reporting, facilitating SISP due diligence, landlord outreach for estoppel letters, employee vacation notice process, preparing the Updated Cash Flow Forecast, and preparing for closing of the Stalking Horse Transaction including a TSA; the Monitor's activities included corresponding with the Applicants, Chaitons and Bennett Jones, monitoring cash flows daily, assisting with DIP Lender reporting, carrying out the SISP, reviewing the Updated Cash Flow Forecast, and drafting this Report.
- cash on handamount: 953000 · currency: CAD
- professional feesamount: 528000 · currency: CAD
- receipts cumulativeamount: 6257000 · currency: CAD
- financial positionThe Updated Cash Flow Forecast reflects that the Applicants are projected to have sufficient liquidity to pay all post-filing obligations.