Ontario · Receivership (court-appointed)
Supplement to the First Report of the Receiver dated June 23, 2025
Court officer report · 23 June 2025
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 filing5 verified
- cash on handnote: Cash balance in general unrestricted account was $638,000 as at May 31, 2025, but had fallen to approximately $500,000 by June 18, 2025. · as at: 2025-06-18 · amount: 500000 · currency: CAD · qualifier: approximately
- financial positionnote: Balance sheet components only (no single 'Total Liabilities' line stated): Current liabilities (accounts payable $610, rent payable $8,147, accruals $59 = $8,816 '000s); Long-term (RBC Capital Lease $682, HASCAP Loan $498 '000s); Shareholders' equity deficit ($2,669 '000s). Figures are in $000s per table header. · as at: 2025-05-31 · basis: re-produced from the internal financials provided by Management · scope: Peace Bridge Duty Free Inc. (entity-level, unconsolidated) · currency: CAD · total assets: 7326000
- operational summaryThe Debtor continues to operate the duty free business in the ordinary course under the Receiver's monitoring, with the Receiver pursuing a Landlord-run RFP process to find a new operator given the non-transferable CBSA license and ongoing lease/rent arrears issues.
- report date23 June 2025
- report noSupplement to the First Report