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TORONTO, ON – Richter Advisory Group announced that she has been appointed a director of the Toronto Board of Directors Junction craft brewery, who declared herself insolvent and entered a period of bankruptcy protection in which she solicited buyers to take over the business.
The full advice 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 “Trusteeâ€) in the Notice of Procedure of Intent to Make a Proposal (the “Notice of Intent Procedure”) of Junction Craft Brewing Inc. (“Junction”), to undertake, on behalf of Junction, a solicitation process sale (the “Sale Processâ€) for the sale of Junction’s business and / or assets and (ii) approved a stalking horse agreement for the acquisition of the Junction business by a stalking horse bidder .
Junction operates primarily as a brewer and vendor of craft beers and other beverages from approximately 16,513 square feet of leased premises located at 150 Symes Road, Toronto, Ontario (the “Premisesâ€). Junction also earns rental and other income by hosting weddings, fundraisers, and corporate functions on the premises.
Additional information regarding the notice of intent procedure and the sale process is available on the trustee’s website at: https://www.richter.ca/insolvencycase/junction-craftbrewing-inc/
In order to get detailed information about Junction, its business and assets, interested parties will need to sign a non-disclosure agreement.
Parties interested in the opportunity should contact Shane Connolly (647-921-3902 or SConnolly@richter.ca) from the Office of the Trustee. The deadline to submit a qualifying bid is 5:00 p.m. (Toronto time) on December 9, 2021.
Junction remains in business during this process, with beer available in its sales room, retail store and online shop.
Source: Richter Advisory Group
Photo: Junction Craft Brewery
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