gregv
Active Member
The Toronto Star issued a correction to their reporting on Pusetiri's:
An Aug. 22 business section article about Pusateri’s Fine Foods incorrectly reported that Pusateri’s owed creditors $37 million: $8 million at its Yorkville location, $10.1 million at its Bayview location, and $19.3 million at its prep kitchen, Pusateri’s Kitchen Ltd. These figures were incorrect due to a misinterpretation of the insolvency filings. In fact, the corrected figures are $178,000 at Yorkville; $853,000 at Bayview, $583,000 at its prep kitchen, and $4.9 million to Scotiabank, for a total of $6.6 million.
Some vendors state they are owed less than the insolvency filings:
The five unsecured creditors listed which are owed the most across all locations are Happy Pops Inc., owed more than $117,000; Rahier Patisserie, $74,700; KeHe Distributors, $47,600; Martelli Foods Inc., $41,700, and Lesley’s Party Sandwiches is owed around $31,600.
Since publication of this article, some suppliers have come forward to contest the figures.
“To clarify, the amount owed to Martelli Foods is $1,306.40,” wrote Rosa Martelli, employee in the accounts receivable department of Martelli Foods, in an email. The figure published by the insolvency trustee is not correct, she added.
Leila Keshavjee, owner of Happy Pops, does not believe her figure is correct either. She said the company is owed just $1,065.43.
www.thestar.com
An Aug. 22 business section article about Pusateri’s Fine Foods incorrectly reported that Pusateri’s owed creditors $37 million: $8 million at its Yorkville location, $10.1 million at its Bayview location, and $19.3 million at its prep kitchen, Pusateri’s Kitchen Ltd. These figures were incorrect due to a misinterpretation of the insolvency filings. In fact, the corrected figures are $178,000 at Yorkville; $853,000 at Bayview, $583,000 at its prep kitchen, and $4.9 million to Scotiabank, for a total of $6.6 million.
Some vendors state they are owed less than the insolvency filings:
The five unsecured creditors listed which are owed the most across all locations are Happy Pops Inc., owed more than $117,000; Rahier Patisserie, $74,700; KeHe Distributors, $47,600; Martelli Foods Inc., $41,700, and Lesley’s Party Sandwiches is owed around $31,600.
Since publication of this article, some suppliers have come forward to contest the figures.
“To clarify, the amount owed to Martelli Foods is $1,306.40,” wrote Rosa Martelli, employee in the accounts receivable department of Martelli Foods, in an email. The figure published by the insolvency trustee is not correct, she added.
Leila Keshavjee, owner of Happy Pops, does not believe her figure is correct either. She said the company is owed just $1,065.43.
Pusateri’s Fine Foods fallout: grocer owes creditors more than $6.5 million
Grocer announced closure of several stores last Friday and the filing of bankruptcy proceedings. The company says it 'has been facing significant financial pressures,' impacting its operations.
www.thestar.com
