After major layoffs, Quebec's Lion Electric to enter creditor protection | CBC NewsLion Electric is entering creditor protection amid significant debt challenges and massive layoffs, raising concerns about its viability.
Canada Jetlines grounds all flights, plans to file for creditor protection | CBC NewsCanada Jetlines is ceasing operations due to financial issues and will file for creditor protection.
SaltWire's money woes a sign of bigger problems in the newspaper business: experts | CBC NewsThe decline in local journalism is accelerating with closures and cutbacks of news operations.SaltWire Network facing financial challenges, with a private equity firm initiating insolvency proceedings.
Troubled Crypto Exchange Zipmex Proposes to Pay Creditors 3.35 Cents on the Dollar: BloombergZipmex, a troubled cryptocurrency exchange, has proposed paying creditors 3.35 cents on the dollar in its restructuring plan.Major creditors have pushed back against the proposals and requested a review of Zipmex's assets and liabilities.Zipmex froze withdrawals in July 2022 after suffering losses from the collapse of the Terra ecosystem and exposure to bankrupt Celsius Network.
SaltWire Network files for creditor protection, has $94M in debt | CBC NewsSaltWire Network filed for creditor protection with nearly $100 million in debt.Fiera Private Debt Fund is owed a third of SaltWire's debt, with legal issues including unpaid taxes and pension plan payments.
Troubled Crypto Exchange Zipmex Proposes to Pay Creditors 3.35 Cents on the Dollar: BloombergZipmex, a troubled cryptocurrency exchange, has proposed paying creditors 3.35 cents on the dollar in its restructuring plan.Major creditors have pushed back against the proposals and requested a review of Zipmex's assets and liabilities.Zipmex froze withdrawals in July 2022 after suffering losses from the collapse of the Terra ecosystem and exposure to bankrupt Celsius Network.
SaltWire Network files for creditor protection, has $94M in debt | CBC NewsSaltWire Network filed for creditor protection with nearly $100 million in debt.Fiera Private Debt Fund is owed a third of SaltWire's debt, with legal issues including unpaid taxes and pension plan payments.
Body Shop Canada to lay off 200 workers after parent company took its cash, court docs show | CBC NewsThe Body Shop Canada seeking creditor protection due to parent company's actionsCompany closing one-third of stores and laying off employees as part of restructuring
Mastermind Toys get order for creditor protection, wants to close some stores | CBC NewsMastermind Toys has obtained creditor protection as it deals with financial challenges and a slowing economy.All 66 of its stores in Canada will remain open for business, but some stores may close during the proceedings.The company cites increasing competition and disruptions from the COVID-19 pandemic as significant challenges.
Ontario court approves sales process for Red Lobster Canada | CBC NewsOntario court approves Red Lobster Canada sales process under creditor protection.