Ontario · Bankruptcy
Trustee's Report to Creditors on Preliminary Administration dated December 13, 2022
Court officer report · 13 December 2022
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What we verified from this filing9 verified
- appointeeKSV Restructuring Inc.
- appointee rolelicensed insolvency trustee
- commencement date22 November 2022
- court file no31-2886715
- provinceONTARIO
- cash on handnote: Cash on deposit in GoodGood's bank account. · amount: 184000 · currency: CAD · qualifier: approximately
- financial positionnote: Asset components: Rent Deposits $118,578; Inventory $80,026; Leasehold Improvements $1,755,000; Equipment $720,000 (total per table $2,673,604), excludes intercompany amounts. Liabilities figure ($8.3 million unsecured creditor claims, of which $5.6 million relates to intercompany loans from Labs) is approximate and based on GoodGood Entities' books and records without a stated as-at date; realizable value of assets expected to be materially lower than book values. · as at: 2022-11-21 · basis: unaudited, internal balance sheet; excludes intercompany amounts · scope: consolidated GoodGood Entities (procedurally consolidated bankrupt estates) · currency: CAD · total assets: 2673604 · total liabilities: 8300000
- operational summaryThe GoodGood Entities operated a chain of five cafes until the bankruptcy filing, at which point the Trustee immediately ceased all operations and terminated all 53 employees.
- report date12 December 2022