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Di-Cut Industries Files for Bankruptcy

Di-Cut Industries Ltd. of Scarborough, Ont., filed an assignment in bankruptcy in mid-February under Canada Bankruptcy and Insolvency Act.

Richter Advisory Group was appointed as receiver of all of the company’s assets, undertakings and properties. Approximately $234,000 was owed to unsecured creditors, while the remaining unsecured claims rest with three entities sharing Di-Cut’s address in Scarborough, including Messaging Science Inc. and two numbered Ontario companies.

An auction of Di-Cut’s equipment is planned for March 17. Di-Cut Industries Ltd. had been in business for over 40 years focusing on finishing and promotional tools for printing work.