Posted May 25, 2023, 6:27 PM
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Registered User
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Join Date: Feb 2009
Location: Vancouver
Posts: 27,510
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Wow, did people i the industry see that coming?
B.C. pub chain the Donnelly Group seeks creditor protection
The group operates more than a dozen pubs, cocktail clubs and restaurants in Vancouver and Toronto.
Author of the article: Cheryl Chan, Joseph Ruttle, Dan Fumano
Published May 24, 2023
The Donnelly Group, which owns pubs and clubs that are fixtures in Vancouver’s nightlife and hospitality industry, is filing for creditor protection.
The Vancouver-based company, which operates more than a dozen pubs, clubs and restaurants in Vancouver and Toronto under the Freehouse Collective, said Wednesday it has started proceedings under the Companies’ Creditors Arrangement Act (CCAA) to revise the terms of existing loans and restructure debt it needed to take on to survive COVID-19.....
....In a petition filed in B.C. Supreme Court on Tuesday, the company asked the court to appoint Ernst & Young as a monitor over its affairs as it works out a restructuring plan with its creditors.
The petition involves 12 pubs, cocktail clubs and restaurants in Vancouver — including the Lamplighter, Butcher & Bullock, and Brass Fish — and two in Toronto, as well as three Barber & Co barbershops, Bomber Brewing in East Vancouver, and a company that handles the cleaning of the hospitality venues.
In total, 750 people are employed in Freehouse’s hospitality venues, 40 at Bomber Brewing, and 25 at Barber & Co.....
https://vancouversun.com/news/local-news/b-c-pub-chain-donnelly-group-seeks-creditor-protection
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