Calgary, Alberta — Alberta-based multi-shop operator (MSO) Collision Kings has launched a sale and investment solicitation process after the company sought and obtained protection under the Companies’ Creditors Arrangement Act (CCAA) pursuant to an order granted by the Court of King’s Bench of Alberta.
FTI Consulting Canada was appointed as Monitor for the CCAA proceedings, which will see the Collision Kings Group sell all or part of its business, property, assets and undertakings.
The Collision Kings Group operates 10 collision repair facilities and 2 CARSTAR branded intake centres and mechanical shops. The collision facilities are: CARSTAR Calgary Royal Oak, CARSTAR Calgary Sunridge, CARSTAR Calgary East Lake, CARSTAR Calgary Burnsland, CARSTAR Calgary Downtown, CARSTAR Lloydminster City Centre Auto Body, CARSTAR Grand Prairie Don Golden, Nick’s Collision and Glass Repair and Bunzy’s Auto Body; and the two intake centres and mechanical shops are: CARSTAR Calgary Inglewood Appraisal Centre and CARSTAR Calgary Foothills.
The sale and investment solicitation process will include an initial bid—a stalking horse bid—for certain assets of the Group to set a low-price limit for prospective bidders and ensure continuity of operations through the process.
The deadline to submit a binding offer to purchase is March 8, 2024, at 5 p.m. MST. Further information on the sale and investment solicitation process can be found at www.cfcanada.fticonsulting.com/collisionkings/sisp.htm.
Those seeking to participate in the sale and investment solicitation process and receive access to the virtual data room (upon the execution of a confidentiality agreement) can contact the Monitor, FTI Consulting, at collision.kings@fticonsulting.com or by phone at 1-888-277-3986.
