Mondrian Hall Inc. (“Mondrian”) was a distributor of photographic and digital imaging equipment, software and service for the architectural, engineering, graphic design and educational markets. Mondrian operated across Canada from seven leased facilities and one owned facility. It had approximately 120 employees at the time its proceedings commenced.
As Court-appointed Receiver, we designed and carried out a stalking horse sale process and oversaw Mondrian’s operations while the sale process was conducted. By eliminating excess costs, we were able to stabilize the business, which provided us with the time to run an orderly sale process. Several bids were submitted in the sale process. We held an auction among qualified bidders and the business was sold to a competitor on a going-concern basis. Results far exceeded expectations.