1551875 Ontario Inc. Brosco Excavating

1551875 Ontario Inc. o/a Brosco Excavating (the “Company”) specialized in concrete levelling, concrete finishing, drainage and waterproofing. The Company struggled since 2019 when it changed its business model to drop its commercial customers and focus on residential. At the time a new project estimator was hired who misquoted several jobs, resulting in losses. There were many job delays at the ousted of the Covid-19 pandemic which put further strain on cashflow. The Company fell behind on supplier payments and remittances to CRA for HST and source deductions. In November 2021, with ongoing financial hardship, the Company shut down operations. The Company made an assignment in bankruptcy on April 26, 2022.