According to court documents filed in April, the company has entered into an asset purchase agreement, which had a closing date of May 3, that will see the company continue its operations.
Another company which had the same owners, Terra Nova Old Port Foods Inc., was also part of the CCAA process, but it wound down operations in the summer of 2023. Those exceptions include a single customer contract, the lease of property at 99 Blackmarsh Rd., and employee plans such as health or other medical benefits, life or other insurance, vacation, disability, retirement or supplemental retirement benefit plans.