There’s no shortage of interest for Erwin Hymer Group North America. Its receivership window is closing, and a new buyer is sought to pick up what’s left.
CTV Kitchener reported that the process is a secretive one, but in court filings, the judge in the case notes that at least 21 parties have signed confidentiality agreements, wanting to look closely at the business.
The court order was filed in late March because Montreal-based KS2 Corp. was looking for an extension on the bid deadline.
That company is listed as an unsecured creditor, and is owed more than $7 million.
Erwin Hymer Group North America laid off the majority of its staff in mid-February, at the time owing $273 million and not having enough cash to pay employees.
The receivership process is being funded by American private equity fund Corner Flag, which loaned the company $5 million. Court filings show that the fund will not be providing any more financial support and will not be a bidder for the company.
Bids for the company were due Monday (April 8).
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