Andy Fisher, the court-appointed trustee overseeing the auction of PDQ assets, has indicated there is only one secured creditor--albeit a major one. "The secured creditor is owed somewhere between $800,000 and $2,000,000," Fisher said, noting that the $130,000 in proceeds from the auction would not be enough to pay down the debt.
Anyone with an unsecured claim, such as a $10,000 deposit, is out of luck. As Fisher noted, "You could pursue the company, however, because the company does not have any assets, and/or does not have any assets available for the unsecured creditors, you would likely be wasting your time and money."
No word yet as to the identity of the secured creditor--It could be the Town of Whitby which leased factory space to PDQ--or the business or individual who owns the tooling and molds for PDQ catamarans.
The image is the final production schedule p[osted in the fibreglass shop before the company closed its doors.
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