​CCAA Administration

On, September 11, 2018, Kraus Brands Inc., Kraus Canada Ltd., Kraus Carpet Inc., Kraus Properties Inc., Kraus USA Inc., and Strudex Inc. (the “Kraus Group” or the “Applicants”) sought and obtained an order (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA”) from the Ontario Superior Court of Justice (Commercial List). Pursuant to the Initial Order, Deloitte Restructuring Inc. (“Deloitte” or the “Monitor”) has been appointed Monitor.  On April 23, 2019, an Order was sought and obtained from the Ontario Superior Court of Justice (Commercial List) which, amongst other things, authorized the termination of these CCAA proceedings and the release and discharge of the Monitor. 

Bankruptcy of 2328708 LP (formally known as Kraus Canada LP), 2328709 LP (formally known as Kraus Carpet LP) and Strudex LP:

On May 22, 2019 (the “Date of Bankruptcy”), 2328708 LP, 2328709 LP and Strudex LP (collectively, the “Bankrupts”) filed assignments in bankruptcy and named Deloitte Restructuring Inc. (the “Trustee”) as trustee in bankruptcy. The Official Receiver issued a certificate of filing confirming the appointment of the Trustee for the estates of the Bankrupts on May 22, 2019.  The first meeting of creditors of the Bankrupts will be held on June 6, 2019, at 10:00 AM, at the office of the Trustee, at 195 Joseph St., Kitchener, ON  N2G 1J6.  See "Bankruptcy" section below for Notices and other creditor communications relating to the bankruptcies.

If you have any questions regarding this matter, please contact Deloitte Restructuring Inc. at the following address:

Deloitte Restructuring Inc.
Bay Adelaide East
8 Adelaide Street, West, Suite 200
Toronto,ON  M5H 0A9