Bad Boy Furniture has entered bankruptcy protection in an effort to restructure its business. The Toronto-area furniture and appliance retailer was (in)famous for decades for its TV ads that featured old-time hustle and bravado, with endless variations on the slogan: “Who’s better than Bad Boy? Nooobody!”
Now, faced with high interest rates and a slowed housing market, Bad Boy has filed a notice of intention proposal under the Bankruptcy and Insolvency Act. Faced with $13.7 million in debt, the company has appointed Infinity Asset Solutions to oversee the total liquidation of its entire inventory, valued at $25 million.
(Wait, there’s more to this story! Our Premium Member-Subscribers read more details of the bankruptcy and the legacy of the retailer’s founder (and Toronto mayor), Mel Lastman, in the latest issue of Hardlines Weekly Report! Our Premium Membership is not just another subscription, but a portal to big savings for all our products and services. Check out our amazing Hardlines Premium Membership to learn how you can stay in the know and save big!)