(rdnewsNOW/ Ian Gustafson)

By rdnewsNOW staff

not bankrupt

Sunterra Quality Food Markets Inc. files for bankruptcy protection

Apr 3, 2025 | 1:01 PM

Sunterra Quality Food Markets Inc., an Alberta-based company with multiple arms, including a line of grocery stores, has filed for bankruptcy protection.

More precisely, the company filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act, with Harris & Partners Inc. appointed as the company’s proposal trustee.

In court documents dated March 24, 2025, it’s stated the company, which has a location at Bower Place Shopping Centre in Red Deer, is not actually bankrupt, but has made itself available through an insolvent person with court approval to restructure the company’s financial affairs.

“The role of the proposal trustee in this matter is to monitor the cash flow of the company during the restructuring process, to assist with the development of the proposal, and to liaise with creditors, who will ultimately make the decision regarding the proposal,” the document states.

(rdnewsNOW/Ian Gustafson)

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The effect of the notice of intention prompts an automatic stay of proceedings against all creditors from taking action against the company.

In addition, the company is required to file a proposal, within 30 days from the date of filing, of the notice of intention, unless they’re given an extension from the court for a period not exceeding 45 days and not exceeding in the aggregate five months after the expiry of the initial 30-day period.

In total, Sunterra Quality Food Markets Inc. owes over $18.8 million in liabilities to 226 creditors, seven of which are businesses in central Alberta.

rdnewsNOW has reached out to Sunterra and Bower Place for comment, but they have not yet responded.

The court documents can be read below:

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