Small Business BC has filed for bankruptcy, a month after the federal government announced it would give the not-for-profit $2.7 million.
Last year, SBBC told BIV it had distributed more than $20 million in business recovery grants to 19,000 businesses as of 2023. SBBC made its bankruptcy filing Dec. 5. It is listed as “permanently closed” on Google, its website is down, its CEO is on leave and some of its employees are looking for work.
In 2023, SBBC had more than $10.6 million in assets, including $9.2 million in internally restricted cash and term deposits.
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