Ontario · CCAA
Second Post Implementation Report dated February 9, 2023
Court officer report · 9 February 2023
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 filing6 verified
- cash on handnote: Metro's cash balance available for operating purposes; management also projects tax refunds of approximately $550,000 in the near term. · as at: 2023-02-06 · amount: 300000 · currency: CAD · qualifier: approximately
- operational summaryMetro continues to grow its consumer-packaged goods distribution business and support its equity-held Subsidiaries, but missed its budget with negative EBITDA of about $2.5 million for the 11 months to November 30, 2022; it has implemented headcount reductions and expects improved 2023 performance. No Disputed Claims remain and no distributions to Affected Creditors are projected.
- professional feesnote: Excludes disbursements and HST. Monitor's counsel Bennett Jones LLP fees for the same period total approximately $16,000. · party: Monitor (KSV Restructuring Inc.) · amount: 31000 · period: August 1, 2022 to January 31, 2023 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: There are no distributions to Affected Creditors projected at this time. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · conditional on: at this time · claims qualifier: unstated · stated on: 2023-02-09 · table missing:
- report date9 February 2023
- report noSecond Post Plan Implementation Report