TORONTO, ON – Richter Advisory Group has announced that it has been named trustee for Toronto’s Junction Craft Brewing, which has declared insolvency and entered a bankruptcy protection period during which it is soliciting buyers to take over the business.
The full notice as provided by Richter is as follows:
On November 8, 2021, the Ontario Superior Court of Justice (Commercial List) issued an order which, among other things, (i) authorized Richter Advisory Group Inc., in its capacity as trustee (the “Trustee”) in the Notice of Intention to Make a Proposal proceedings (the “NOI Proceedings”) of Junction Craft Brewing Inc. (”Junction”), to undertake, on behalf of Junction, a sale solicitation process (the “Sale Process”) for the sale of Junction’s business and/or assets and (ii) approved a stalking horse agreement for the acquisition of Junction’s business by a stalking horse bidder.
Junction operates primarily as a brewer and seller of hand-crafted beers and other beverage products from an approximately 16,513 square foot leased premises located at 150 Symes Road, Toronto, Ontario (the “Premises”). Junction also earns rental and other income from hosting weddings, fundraisers and corporate functions at the Premises.
Additional information regarding the NOI Proceedings and the Sale Process can be found on the Trustee’s website at: https://www.richter.ca/insolvencycase/junction-craftbrewing-inc/
In order to obtain detailed information on Junction and its business and assets, interested parties will be required to sign a non-disclosure agreement.
Parties interested in the opportunity should contact Shane Connolly (647-921-3902 or SConnolly@richter.ca) of the Trustee’s office. The deadline for submission of a qualifying offer is 5:00 p.m. (Toronto time) on December 9, 2021.
Junction remains in operation during this process, with beer available at its taproom, retail store, and online shop.
Source: Richter Advisory Group
Photo: Junction Craft Brewing