TORONTO GOODWILL OWES $6-MILLION, DOCUMENTS SHOW

Feb 10, 2016

By Jane Brown

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Documents show Toronto Goodwill owes $6-million to some 700 unsecured creditors, mostly former employees.

One of them is James Nickle. He says he’s owned about $11,600 by his former employer.

In a statement of affairs obtained by the Toronto Star, documents highlight Goodwill’s precarious financial condition and the number of people who might never see the money they’re owed.

Goodwill Toronto closed all of its 16 stores, 10 donation centres and two offices on January 17th and filed for bankruptcy on February 7th.

CEO Keiko Nakamura says she filed for bankruptcy for the sake of the employees.

Under the Wage Earner Protection Act, an employee of a bankrupt company can receive up to 3-thousand dollars, plus four times their maximum weekly earnings.

Keiko Nakamura will have more to say as a guest on Zoomer Radio’s Goldhawk Fights Back at 11:30 this morning.

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