Toronto-area furniture retailer Bad Boy Furniture Warehouse Ltd. is officially bankrupt.
In November, the company filed a notice of intention under the Bankruptcy and Insolvency Act, saying it aimed to restructure its business.
Later the same month, an Ontario court gave Bad Boy permission to begin liquidation sales.
OBJ360 (Sponsored)
Giving Guide: Ottawa Cancer Foundation
What We Do As Ottawa’s only Community Cancer Hub, we are transforming Supportive Cancer Care through dynamic collaborations with over 70 diverse community partners. Together, we create and deliver impactful,
Giving Guide: Foundation Sante Bruyere Health
What we do Bruyère Health is Eastern Ontario’s leading health organization specializing in aging, rehabilitation, and care for those with multiple complex medical conditions. We bring together compassionate, person-centred care
It also gave the retailer until Jan. 23 to file its restructuring proposal.
But according to a new document on the website of bankruptcy trustee KSV Advisory, Bad Boy failed to file a cash-flow statement or proposal in time, and is now deemed to have made an assignment.
Scott Terrio, manager of consumer insolvency at licensed insolvency trustee firm Hoyes, Michalos & Associates Inc., says that means the company is now bankrupt.
The chain had one store in the Ottawa region on Merivale Road.
