Quebec · CCAA
Monitor's Second Report
Court officer report · 13 October 2026
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 filing7 verified
- secured creditorsnote: Approximately $1.39 million drawn as at the date of the report (approx. $1.11 million undrawn). Advances: $750,000 (Jul 23), $200,000 (Sep 2), $400,000 (Sep 7), $40,000 (Sep 30). This is post-filing interim financing, not pre-filing debt. · page: 10 · as of: 2026-10-13 · amount: 1390000 · debtor: Canada Tire Company Inc. and Canada Supply & Tire NS Inc. · creditor: FGI Worldwide LLC (DIP Facility / Interim Lender) · currency: CAD · security: Interim Lender Charge of $3,000,000 (court-ordered charge); DIP Facility maximum $2,500,000 maturing October 30, 2026
- unsecured creditorsnote: Approximate figure. These are post-filing supply arrangements protected by Court-ordered Critical Supplier and Essential Supplier Charges and paid within five days of sale, not ordinary pre-filing unsecured claims. Separately, the Monitor held approximately USD $0.45 million in trust for disputed goods as at October 2, 2026. · page: 15 · as of: 2026-10-02 · basis: Monitor's report: of approximately $7.5M cost value of reserve inventory, $6M remains to be paid to the critical suppliers · amount: 6000000 · debtor: Canada Tire Company Inc. · creditor: Critical and essential suppliers (reserve inventory payables) · currency: CAD
- secured creditorsnote: Amount is FGI's pleaded indebtedness "à parfaire" as at October 7, 2026 (Receivership Application para. 19). It includes a $750,000 termination fee charged while FGI was demanding repayment, default interest from June 1, 2026 and legal, consulting and field-examination fees, all of which the Debtors dispute. The Monitor's own figure is approximately $14.3 million including interest and charges but excluding the termination fee; the Monitor's comparative table uses FGI loan balances of about $15.57M-$15.85M. The quantum of FGI's claim will be determined by the Monitor before any distribution. Disputed. · page: 22 · as of: 2026-10-07 · amount: 16570353.63 · debtor: Canada Tire Company Inc. and Canada Supply & Tire NS Inc. · creditor: FGI Worldwide LLC (revolving facility, senior secured creditor) · currency: CAD · security: Hypothec dated March 9, 2026, which expressly covers the rights under the life insurance policies listed in its Schedule C; senior secured creditor over the Debtors' assets
- process resultslois: 5 · ndas: 34 · note: 111 parties solicited as at October 6, 2026; 5 LOIs on September 15, 2026, none acceptable; 4 Revised LOIs on September 28, 2026, none acceptable · as of: 2026-09-28 · solicited: 111
- purchaserMr. Gabriel Granatstein
- sale advisorRichter LLP
- sale outcometext: SISP produced no acceptable going-concern or liquidation offer; the Monitor recommends an Orderly Wind-Down (company-led self-liquidation) rather than FGI's proposed receivership · scope: whole_business · status: no_acceptable_bid