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 a safety deposit box belonging to the co-founder of a notorious B.C.-based cryptocurrency exchange scam. Documents filed in B.C. Supreme Court say the items are the proceeds … Read more
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 threat to local journalism, experts said Tuesday. “We’re seeing a resurgence in a steady spate of closings and scaling back of local news operations,” said … Read more
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 debt, according to court documents. An affidavit published through the company’s court monitor from Jordan Searle, who heads the Canadian arm, describes how troubles befell … Read more
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 was sent to staff on Thursday, explains that restructuring changes are being made “to adapt and best align our strategies to be more competitive in the long … Read more
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 the value of gift cards and about consumer protection when a company such as Mastermind Toys heads toward bankruptcy. “I would just like to see some more … Read more
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 of the filing and Canada “remains a key priority market for the business.” “As such, I want to underline that there is no impact on … Read more
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, said it had made an “incredibly difficult decision to wind down its global operations, effective immediately.” That leaves existing customers in limbo. SmileDirectClub’s aligner treatment through … Read more
