Ontario · Receivership (court-appointed)
Notice Statement Of Receiver – dated June 10 2024
Notice to creditors · 10 June 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing10 verified
- financial positionnote: Figures stated in $000's CAD. Total secured obligations of $19,066K reported separately as at Appointment Date (May 30, 2024); not combined here as total liabilities were not stated as a single figure covering all liabilities. · page: 1 · as at: 2024-03-30 · basis: Company's most current internal, unaudited financial statements; book values, not realizable value · scope: GFI Brands Inc. (entity level) · currency: CAD · total assets: 4806000
- secured creditorsnote: Amount reported in $000's; inclusive of closing fees and early termination fees of $600K per loan agreement; reconciled with mailing list exact figure $4,184,515.26 (page 5). Applicant for receivership order. · page: 2 · as of: 2024-05-30 · amount: 4185000 · debtor: GFI Brands Inc. · creditor: Siena Lending Group Canada LLC · currency: CAD · security: Charge over ABL Priority Collateral
- secured creditorsnote: Amount reported in $000's; reconciled with mailing list exact figure $14,881,727.36 (page 5). · page: 2 · as of: 2024-05-30 · amount: 14882000 · debtor: GFI Brands Inc. · creditor: Farm Credit Canada · currency: CAD
- unsecured creditorsnote: Itemised list also provided in Schedule A (page 5): Alnoor Sheriff $30,923.58; Brand Pioneers LLC $8,209.80; Clark's Nutritional Centre, Inc $102.62; PDS Transportation Services Inc. $14,277.61; Universite Laval $26,805.00; Westmark Fashion Distribution Services Ltd $3,245.56. · page: 2 · as of: 2024-05-30 · basis: Per Company's books and records, approximately $83.6K · amount: 83600 · debtor: GFI Brands Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Address in USA; currency inferred as USD. · page: 5 · as of: 2024-05-30 · basis: Creditor Mailing List (Schedule A) per Company's books and records · amount: 8209.8 · debtor: GFI Brands Inc. · creditor: Brand Pioneers LLC · currency: USD
- unsecured creditorsnote: Address in USA; currency inferred as USD. · page: 5 · as of: 2024-05-30 · basis: Creditor Mailing List (Schedule A) per Company's books and records · amount: 102.62 · debtor: GFI Brands Inc. · creditor: Clark's Nutritional Centre, Inc · currency: USD
- unsecured creditorspage: 5 · as of: 2024-05-30 · basis: Creditor Mailing List (Schedule A) per Company's books and records · amount: 30923.58 · debtor: GFI Brands Inc. · creditor: Alnoor Sheriff · currency: CAD
- unsecured creditorspage: 5 · as of: 2024-05-30 · basis: Creditor Mailing List (Schedule A) per Company's books and records · amount: 26805 · debtor: GFI Brands Inc. · creditor: Universite Laval · currency: CAD
- unsecured creditorspage: 5 · as of: 2024-05-30 · basis: Creditor Mailing List (Schedule A) per Company's books and records · amount: 3245.56 · debtor: GFI Brands Inc. · creditor: Westmark Fashion Distribution Services Ltd · currency: CAD
- unsecured creditorsnote: Address in USA; currency inferred as USD. · page: 5 · as of: 2024-05-30 · basis: Creditor Mailing List (Schedule A) per Company's books and records · amount: 14277.61 · debtor: GFI Brands Inc. · creditor: PDS Transportation Services Inc. · currency: USD