Ontario · CCAA
First Report of the Monitor
Court officer report · 30 September 2024
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What we verified from this filing9 verified
- cash on handnote: Closing cash balance for Reporting Period ended September 20, 2024, per cash flow variance table (in $000's). · as at: 2024-09-20 · amount: 3143000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total Disbursements for the Reporting Period per the Cash Flow Variance Report (in $000's). · since: June 22, 2024 · amount: 15886000 · currency: CAD
- operational summaryTBS Canada continues to operate its 71 retail stores while pursuing a going-concern sale/franchise transaction through a court-supervised sale process, having recently secured significant inventory replenishment to support operations through the 2024 holiday season.
- process resultsndas: 10 · note: Figures from reproduced earlier report (Fifth Report/Pre-Filing Report) describing marketing during NOI Proceeding. · solicited: 20
- professional feesnote: Actual restructuring professional fees disbursed during the Reporting Period, per cash flow variance table (in $000's); budget was $2,699,000. · party: Restructuring professionals (Company's legal counsel, and the Monitor and its legal counsel) · amount: 1641000 · period: June 22, 2024 to September 20, 2024 · currency: CAD
- receipts cumulativenote: Total Receipts for the Reporting Period per the Cash Flow Variance Report (in $000's). · since: June 22, 2024 · amount: 12760000 · currency: CAD
- report date30 September 2024
- report noFirst Report
- sale outcometext: TBS Canada and the Monitor continue to advance the Sale Process, including ongoing discussions regarding a franchise agreement with the UK Purchaser, with the aim of implementing a going-concern and value maximizing transaction for TBS Canada. · scope: whole_business · status: process_approved