Coast Wholesale Appliances Enters CCAA, Court Approves Hilco Liquidation

Coast Wholesale Appliances Inc. and Coast Holdings (GP) Ltd. commenced Companies' Creditors Arrangement Act (CCAA) proceedings in the Supreme Court of British Columbia after the court granted an initial order on April 17, 2026. PricewaterhouseCoopers Inc. was appointed Monitor of the debtor companies, which also include Coast Limited Partnership and Coast Holdings Limited Partnership. The CCAA is Canada's federal statute for restructuring larger insolvent companies, and the court-appointed Monitor oversees the proceeding for the court and creditors.

The initial order was sought by the company's lenders rather than by the debtors. Ten days later, on April 27, 2026, the court granted an amended and restated initial order that extended the stay of proceedings to August 14, 2026 and approved a liquidation sale agency agreement with Hilco Canada Holdings, ULC. The order authorizes Hilco to conduct the court-approved liquidation sale of the debtors' inventory and assets under that agreement.