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3550184 CANADA LTD. - HOME FASHION MARKET PLACE
2031581 ONTARIO LTD. - FURNITURE DIRECT
- Companies filed for Bankruptcy on April 27, 2007.
- Stan West is an operating name that is part of Home Fashion Market
- All locations are closed
We hope to communicate information through this website as it becomes available to minimize your need to call our office.
UPDATE AS OF OCTOBER 4, 2007
To date, most of the assets for both companies have been sold. It does not appear there will be sufficient funds to pay any of the unsecured creditors. Receiver Reports pursuant to Section 246(2) of the Bankruptcy and Insolvency
Act have been posted under each company tab to provide further details regarding the status of assets and liabilities.
UPDATE AS OF JULY 6, 2007
SALE OF ASSETS
BDO Dunwoody Limited as Receiver /agent for the secured creditors sold all available inventory to Maynards Industries Ltd/MG Smith Inc. on June 27, 2007. They will be selling the inventory from all locations starting on July 13, 2007. BDO will be realizing on the remaining equipment and fixtures in the coming weeks.
Any customer tagged items in the warehouse (approximately 2,000 pieces) are set aside for customers to claim. You must file a property claim with BDO immediately to claim an item on the warehouse list. (Blank Property Form available under Customer section)
CUSTOMERS IDENTIFIED FOR PICKERING, MISSISSAUGA, LONDON
Someone will contact you in the next two-three days to arrange pick up. The pick up dates will start immediately.
WAREHOUSE CUSTOMERS
The liquidation company that has purchased the assets is organizing the release of customer merchandise (2000 pieces). BDO has provided them all of the completed paperwork received from customers to date. If you are included on the warehouse list, file your property proof of claim immediately with BDO to obtain the items. You will be contacted for pick up arrangements starting July 7.
EMPLOYEE PERSONAL ITEMS
You will be given access to the store for pick up of personal items starting in the next few days. Please watch the premises for activity and request access. Please have a list of what you believe to be picking up ready for review. You will be supervised and given limited time in the store/warehouse to recover your items.
DIRECTIONS FOR WAREHOUSE LOCATION
Highway 401 to Highway 24 North. Right lane veers off towards shopping centre - (sign shows Holiday Inn Dr /Groh Street) First light is Holiday Inn Drive. Turn right - Warehouse is #255 on left side.
IMPORTANT CREDITOR MEETING INFORMATION
Furniture Direct - 11:00 am
Home Fashion Market - 2:00 pm
We have posted the agenda and general instructions/directions/map.
These can be found under each company tab marked "Creditor Meeting".
IF you are planning to attend this meeting and have not already sent in your proof of claim, please bring the completed proof of claim form with you.
It is not mandatory for creditors to attend this meeting.
If you don't attend, you will still be able to file a proof of claim past the date of this meeting.
A copy of the minutes of this meeting will be posted.
IMPORTANT NOTICE TO CUSTOMERS
Other General Information (updated)
Notices of Bankruptcy and Proof of Claim packages were mailed Friday May 4th. This is in accordance to the Bankruptcy and Insolvency Act which states creditors must be notified within 5 business days.
On May 11, BDO posted the lists of furniture available for pick up at each store location. Pick up of those items will be arranged shortly. If you receive your furniture, you will not be a creditor and therefore not required to fill out a form. We are still completing the review of inventory in the warehouse as at May 25, 2007.
If you have a financing contract with HSBC you should contact them at 1-800-463-9506. If you receive a refund from HSBC or Visa or MasterCard, you are not a creditor and should not be filing any paperwork with BDO.
Updated: July 6, 2007 - 2:00 PM |
