The Canadian beverage packaging company that processed plant-based milk linked to a listeria outbreak has filed for creditor protection as it plans a restructure of the business.
Almond and other alternatives to dairy milk products are displayed for sale at a grocery store in Aylmer, Que., Thursday, May 26, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Insolvent companies use this mechanism to avoid liquidation and get enough breathing room from creditors so they can keep their business afloat. Proposal trustee Alvarez & Marsal Canada states in the letter to creditors that Joriki is not bankrupt but is hoping to “create a stabilized environment” and give the company “breathing room while it evaluates its strategic alternatives.”The listeria outbreak that infected at least 20 people in Ontario, Quebec, Nova Scotia and Alberta was not mentioned in the notice.
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