SAINT-BRUNO-DE-MONTARVILLE, Quebec, Jan. 08, 2026 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) ("Colabor" or the "Company"), announces that the Superior Court of Quebec (Commercial Division) (the "Court") has issued an initial order (the "Initial Order") granting the Company and certain of its subsidiaries, Transport Paul-Émile Dubé Ltée, Le Groupe Resto-Achats Inc. and Norref Fisheries Quebec Inc., protection under the Companies' Creditors Arrangement Act ("CCAA").
Raymond Chabot Inc. has been appointed pursuant to the initial CCAA order as monitor of the Company (in such capacity, the "Monitor") in order to assist the Company with its restructuring efforts and to report to the Court. In addition, the Initial Order provides for, among other things, a stay of proceedings against the Company and its concerned subsidiaries, including a stay of creditor claims and exercise of certain contractual rights, and the approval of debtor-in-possession financing (the "DIP Financing") provided by The Toronto-Dominion Bank, The Bank of Montreal and the Bank of Nova Scotia under a secured super priority interim credit facility. The DIP Financing will fund the sale and investment solicitation process in respect of the Company and its concerned subsidiaries' businesses or assets (the "SISP") and the Company's operations during the restructuring process. The continued availability of the DIP Financing is dependent upon certain conditions being satisfied, including Court approval.
The Court also issued an order approving a SISP in order to provide interested parties with the opportunity to submit proposals with a view to determine the best possible transaction for the Company, its concerned subsidiaries and its stakeholders.
While under CCAA protection, management of the Company will remain responsible for the day-to-day operations of the Company under the oversight of the Monitor.
The Company also announces the appointment of Mr. Marc-Antoine Daoust as Chief Financial Officer, which position Mr. Yanick Blanchard filled on an interim basis since July 17, 2025. Mr. Daoust served as the Company's Vice President, Finance prior to this appointment. Mr. Daoust has over 25 years of experience in finance in Canada and internationally and has held leadership roles in large companies. Mr. Blanchard will now serve as the Company's Chief Restructuring Officer.
A copy of the initial order granted by the Court will be available, along with additional information respecting the CCAA proceedings, on the Monitor's website. Readers are urged to consult the full text of all of these documents for further, more detailed, information.
Further news releases will be provided during the CCAA proceedings as required by law or otherwise as may be determined necessary by the Company or the Court. Documents relating to the restructuring process such as the initial order, the Monitor's reports to the Court as well as other Court orders and documents shall also be published and made available on the Monitor's website at https://www.raymondchabot.com/en/business/public-records/colabor.
About Colabor
Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets or "HRI" in Quebec and in the Atlantic provinces, as well as the retail market. Within its two operating activities, Colabor offers specialty food products such as meat, fish and seafood, as well as food and related products through its Broadline activities.
Further information:
| Marc-Antoine Daoust Chief Financial Officer Colabor Group Inc. Tel.: 450-449-4911 extension 1785 investors@colabor.com | Danielle Ste-Marie Ste-Marie Strategy and Communications Inc. Investor Relations Tel.: 450-449-0026 extension 1180 |
Forward-Looking Statements
This press release contains certain forward-looking statements as defined under applicable securities law, including statements regarding the CCAA proceedings and SISP and the related filing of an application to the Court, trading in the Company's common shares and other listed securities, and statements about the Company's belief and expectations and other statements that are not statements of historical fact. Forward-looking information, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. Refer in particular to section 2.2 "Development Strategies and Outlook" of the Company's MD&A. While Management considers these assumptions to be reasonable based on information currently available to the Company, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Colabor currently expects. For more exhaustive information on these risks and uncertainties, the reader should refer to section 7 "Risks and Uncertainties" of the Company's MD&A. These factors are not intended to represent a complete list of the factors that could affect Colabor and future events and results, may vary significantly from what Management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release, information representing Colabor's expectations as of the date of this press release (or as of the date they are otherwise stated to be made), which are subject to change after such date. While Management may elect to do so, the Company is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.
