The Very Good Food Company is in receivership

The Very Good Food Company has been placed into receivership pursuant to an order of the Supreme Court of British Columbia on January 16.

BDO Canada was appointed as the receiver and will be commencing a sales process to solicit bids for the assets or a restructuring of the company. During the receivership, the company will continue to operate and a buyer will be sought on a going concern basis.

In connection with the appointment of a receiver, the TSX Venture Exchange will suspend trading in the company’s securities. The TSXV will proceed to delist the company for failure to maintain exchange requirements.

The company’s remaining board director Parimal Rana has also resigned.