A corporation linked to the insolvent out-of-town landlords who amassed a $144-million debt load after buying up hundreds of northern Ontario houses is now scrambling to sell off properties here in Sault Ste. Marie.
The mixed-use building that once housed the now-defunct Neighbourhood Resource Centre is over 8,000 square feet and consists of three retail units and eight one-bedroom apartments, according to an online real estate listing. The agent brokering the sale of all four properties declined to speak when contacted by SooToday.
The real estate fire sale in Sault Ste. Marie comes just weeks after the landlords behind 11 insolvent corporations — including Butt, along with Ryan Molony and Dylan Suitor — filed for protection from creditors in the Ontario Superior Court of Justice, claiming they owe more than $144 million in unpaid loans and have less than $100,000 in the bank.
The SID family of companies was founded by Clark, a former child actor known for his starring role on The Zack Files, a Canadian sci-fi television series that aired on YTV from 2000 to 2002, according to the IDMB website.