Encore Sales
Encore Sales (“Encore”) is a privately-owned distributor of general and seasonal merchandise to retailers throughout North America. Encore Sales is a partnership formed by 1326281 Ontario Limited and 1326282 Ontario Limited. Encore’s operations are run out of a head office located at 333 North Rivermede Road, in Concord, Ontario as well as a seasonal distribution warehouse located within close proximity.
Encore filed a Notice of Intention to Make a Proposal (“NOI”) pursuant to the provisions of the Bankruptcy and Insolvency Act (“BIA”) on September 27, 2011 and A. Farber & Partners Inc.(“Farber”) was appointed as Proposal Trustee. On October 25, 2011, by Order of the Honourable Justice Brown, the deadline to file a Proposal was extended to December 12, 2011.
Ultimately, a restructuring proposal could not be completed by the Company. As a result, the first secured lender brought a motion to terminate the BIA proposal proceeding and appointed Farber as receiver (the "Receiver"). This motin was granted on December 8, 2011 by the Honourable Justice Morawetz. As a result, Encore was deemed to have made an assignment into bankruptcy effective December 8, 2011.
During the NOI process, the Company completed two Court-approved sale transactions. After the Receivership, the Receiver undertook a third Court-approved sale. The assets remaining consist of a small amount of inventory and fixed assets plus accounts receivable. In the event that there are sufficient proceeds to pay the first secured creditor in full, the residual, if any, would be subject to the interests of certain related party secured creditors. Accordingly, no surplus funds are expected to be available for distribution to preferred or unsecured creditors.
The First Meeting of Creditors of the Encore was held on December 29, 2011 at 10:00 a.m. EST at the Office of the Superintendent of Bankruptcy, 25 St. Clair Avenue East, Suite 600, Toronto, Ontario. During the meeting, the appointment of Farber as bankruptcy Trustee was affirmed.
Note to Former Employees of Encore
Qualifying employees may be entitled to receive a payment from the Wage Earner Protection Program ("WEPP"). Further information about the WEPP will be mailed to qualifying employees by Farber on or before January 22, 2012. If you are a former employee of Encore and have not received information about the WEPP from Farber by January 22, 2012, please contact Annette Chopowick at (416) 496-3733.
The purpose of this website is to provide documents to any interested persons regarding the Bankruptcy of this company. The documents listed below are in pdf format and can be viewed and/or downloaded. Please feel free to return to this website periodically for future updates on the status of these proceedings. Additional documents and information will be posted as it becomes available.
Bankruptcy Documents
NOI Documents
Court Orders