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company-bankruptcy

Ontario court approves sales process for Red Lobster Canada

by Anas Siddiqui
Ontario court approves sales process for Red Lobster Canada

Toronto An Ontario court has approved a sales process and stalking horse bid for Red Lobster Canada, which is operating under court protection from creditors. Court filings say move meant …

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‘Roaring Kitty’ returns, sending meme stocks like GameStop surging once again

by Anas Siddiqui
‘Roaring Kitty’ returns, sending meme stocks like GameStop surging once again

The man at the centre of the pandemic meme stock craze appeared online for the first time in three years, sending the prices of three quirky and volatile shares sharply …

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FTX says most customers will get all their money back less than 2 years after crypto fraud crisis

by Anas Siddiqui
FTX says most customers will get all their money back less than 2 years after crypto fraud crisis

FTX says that nearly all of its customers will get back the money they are owed — and some will get more than that — nearly two years after the cryptocurrency exchange imploded. FTX …

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Unexplained wealth order filed against crypto scam co-founder

by Anas Siddiqui
Unexplained wealth order filed against crypto scam co-founder

B.C.’s director of civil forfeiture has filed an unexplained wealth order in an attempt to seize a quarter-million dollars in cash, 45 gold bars, luxury watches and jewelry that were contained in …

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SaltWire’s money woes a sign of bigger problems in the newspaper business: experts

by Anas Siddiqui
SaltWire’s money woes a sign of bigger problems in the newspaper business: experts

The recent decision by SaltWire Network Inc., Atlantic Canada’s largest newspaper company, to seek protection from its creditors is another sign of the decline of the business and the growing …

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Body Shop Canada to lay off 200 workers after parent company took its cash, court docs show

by Anas Siddiqui
Body Shop Canada to lay off 200 workers after parent company took its cash, court docs show

The Body Shop Canada Ltd. is seeking creditor protection and closing a third of its stores because its parent company stripped the Canadian arm of cash and pushed it into …

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Vice Media to halt publishing to namesake site, cut ‘several hundred’ jobs in restructuring

by Anas Siddiqui
Vice Media to halt publishing to namesake site, cut ‘several hundred’ jobs in restructuring

The head of Vice Media Group has informed employees that the company will stop publishing content on Vice.com and will be cutting “several hundred” positions. A memo from Vice CEO Bruce Dixon, which …

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Mastermind Toys stopped accepting gift cards on Dec. 24 — when most cards were still wrapped

by Anas Siddiqui
Mastermind Toys stopped accepting gift cards on Dec. 24 — when most cards were still wrapped

Riverview father Rudy Walters is speaking out after Mastermind Toys stopped accepting gift cards effective Christmas Day — with signs posted on their storefronts only days before. Walters said the move raises questions about …

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Electric scooter company Bird Canada says operations not affected by U.S. bankruptcy

by Anas Siddiqui
Electric scooter company Bird Canada says operations not affected by U.S. bankruptcy

Electric scooter rental company Bird says its Canadian operations won’t be affected by the company’s bankruptcy proceedings in the U.S. Canadian COO Alex Petre told CBC News that Bird Canada is not part …

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SmileDirectClub shuts down months after filing for bankruptcy protection

by Anas Siddiqui
SmileDirectClub shuts down months after filing for bankruptcy protection

SmileDirectClub is shutting down just months after the struggling teeth-straightening company filed for bankruptcy protection. In a Friday announcement, the U.S.-based company that was operating in multiple countries, including Canada, …

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