Tankhouse Development Inc.

Tankhouse Development Inc. was placed into receivership on August 25, 2022 on application by the Business Development Bank of Canada who is owed approximately, $1,566,470.  In addition to the BDC debt the Company, there is secured amounts outstanding with Farm Credit Canada, City of Belleville and Canada Revenue Agency.

The Company owns specific real estate and operates a brewery known as Signal Brewing Company in a heritage building in the Corbyville distillery district.  The operations were significantly impacted due to the restrictions imposed on restaurants and the recent passing of the majority shareholder.  The Company has been unable to service the secured debt for a significant period of time and BDC lost confidence the operations, under new management, could change the past operating results.  MNP LTD. was appointed as Receiver.