Grew likely to be sold
If court permission is granted July 13 to sell Grew Manufacturing, equipment, moulds and real estate, bids for the company will be sought within days, said receiver BDO Canada Limited's Bill Courage.
An auction would be held this summer for the rest, including finished display model boats, boat trailers and one or two vehicles, Courage said in an interview Wednesday.
Grew Manufacturing's assets have been in the care of the receiver since May 10. Courage said there's been more interest in the business since he confirmed in a news story about one month ago that the company was in receivership.
The company's manufacturing plant south of Owen Sound has been idle since Grew president David Cameron shot and wounded an employee there, then ended his own life in an armed confrontation with police Feb. 21 near Kemble.
The Business Development Bank of Canada obtained court approval to place two numbered companies into receivership.
One was 1673747 Ontario Inc., operated as Grew Manufacturing, while 2045227 Ontario Ltd. operated as Profisher or Profisher Direct. Liabilities exceed $2 million and there are about 100 creditors, Courage has said.
Courage said Wednesday he'll try to sell everything he has in his possession. He said there is some confusion now over whether that includes the Grew trade name.
"I can't find any evidence that the name was ever actually purchased," Courage said. "Whether or not I actually own the Grew Boats trade name, I do not know. And if I do not have that name, I cannot sell it," Courage said.
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An auction would be held this summer for the rest, including finished display model boats, boat trailers and one or two vehicles, Courage said in an interview Wednesday. Grew Manufacturing's assets have been in the care of the receiver since May 10.
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