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)
How the uOttawa faculty of engineering instills an ‘entrepreneurial mindset’ in students
A decade ago, Terrafixing chief operating officer Vida Gabriel was a chemistry-loving student in high school with little to no interest in business or entrepreneurship. “I didn’t like the sales
Women UNlimited creates collective action and collective impact
I never thought in my lifetime that I would witness something so powerful, heartwarming and inspiring. It’s called Women UNlimited – UNICEF Canada’s women-circled giving collective. The model is simple
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.
