A storied Greater Toronto Area furniture brand founded by a former city mayor and popularized with television and radio ads proclaiming "nooobody" could beat its prices is aiming to restructure its business. In a filing made under the Bankruptcy and Insolvency Act last week, Bad Boy Furniture Warehouse Ltd. said a slew of economic conditions that have weighed on consumers' shopping habits and its business forced it to make the "very difficult decision" to re-examine its operations.
"The decision to commence these proceedings was taken after much deliberation," the furniture company said in a notice to customers presented to an Ontario court Thursday as part of a broader Notice of Intention, a legal mechanism companies use to right their business following troubles. "Bad Boy believed (the notice) was necessary in the context of a challenging economic environment driven by high interest rates, declining sales in the housing sector and a tight retail climate, particularly in the home furnishing secto
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