Ontario · Receivership (court-appointed)
Receiver's First Report - Bancroft Bargain Barn Limited and 1953144 Ontario Inc. dated April 4, 2025
Court officer report · 4 April 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified
- secured creditorspage: 6 · amount: 940125.06 · debtor: Bancroft Bargain Barn Limited · creditor: Royal Bank of Canada · currency: CAD · security: Bancroft Credit Agreement (credit facilities letter agreement dated November 15, 2022 and RBC Credit Agreement – Standard Terms); Bancroft Visa Agreement dated November 16, 2022
- secured creditorsnote: PPSA search on 195 (dated February 9, 2025) shows two registrations in favour of RBC · page: 6 · amount: 581999.02 · debtor: 1953144 Ontario Inc. · creditor: Royal Bank of Canada · currency: CAD · security: 195 Credit Agreement (credit facilities letter agreement dated August 22, 2022 and RBC Credit Agreement – Standard Terms); 195 Visa Agreement dated January 24, 2017
- secured creditorspage: 6 · debtor: Bancroft Bargain Barn Limited · creditor: Business Development Bank of Canada · currency: CAD · security: PPSA registration (search dated February 9, 2025); amount not stated
- secured creditorspage: 7 · debtor: 1953144 Ontario Inc. · creditor: Business Development Bank of Canada · currency: CAD · security: PPSA registration (search dated February 9, 2025); amount not stated
- secured creditorspage: 7 · debtor: 1953144 Ontario Inc. · creditor: Toyota Industries Commercial Finance Canada Inc. · currency: CAD · security: PPSA registration (search dated February 9, 2025); amount not stated
- secured creditorsnote: Provincial (Ministry of Finance) secured registration · page: 7 · debtor: 1953144 Ontario Inc. · creditor: His Majesty In Right Of Ontario Represented By The Ministry Of Finance · currency: CAD · security: PPSA registration (search dated February 9, 2025); amount not stated
- secured creditorsnote: Deemed trust / priority payable for HST; approximate figure acknowledged by Debtors and Guarantors as of April 9, 2024; Receiver has not received documentation to confirm quantum as of Appointment Order date and does not have breakdown by Debtor · page: 7 · as of: 2024-04-09 · amount: 700000 · debtor: Bancroft Bargain Barn Limited and 1953144 Ontario Inc. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Document names no individual creditors; Receiver does not have breakdown of amounts owed by each Debtor and will request this information from the Debtors · page: 7 · as of: 2025-03-04 · basis: Accounts payable listing provided to the Receiver by the Guarantors · amount: 781486.04 · debtor: Bancroft Bargain Barn Limited and 1953144 Ontario Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD