Bad Boy Furniture gets Ontario court approval to start liquidation sale

An Ontario court has granted Bad Boy Furniture Warehouse Ltd. permission to begin liquidating its stores.

A court order from Judge Herman Wilton-Siegel allows the Pickering-based furniture company to start selling off its merchandise on Friday.

Documents filed with the Superior Court of Justice say sales will occur at the brand’s 12 stores for the first 30 days of its liquidation period.

After that period, the documents say some stores will close and consolidate while others remain open. Under the court order, the liquidation sales must end across the company’s entire network by Feb. 15.

The permission Bad Boy got to liquidate its stores comes as the company is aiming to restructure its business through a filing made under the Bankruptcy and Insolvency Act.

It has said the move was necessary because it is operating in a “challenging” economic environment. Since making the filing, Bad Boy has laid off a “small” number of staff and plans to make further cuts.

The Canadian Press