The Globe and Mail reports in its Thursday edition that Calgary-based robotics start-up Attabotics is seeking bankruptcy protection after running out of cash. The Globe's Sean Silcoff writes that an insider revealed the company was spending millions monthly and is preparing to file under the Canadian Bankruptcy and Insolvency Act.
It is not clear whether the company had filed yet by Wednesday. A copy of a document sent by Attabotics to an unidentified employee stated the company had filed a notice of intention to make a proposal under the Canadian Bankruptcy and Insolvency Act on June 30. A copy of that document was posted online by supply chain industry consultant Brittain Ladd. The document also said Richter Inc. had been appointed as trustee. However, a search of bankruptcy filings on the website of the Office of the Superintendent of Bankruptcy on Wednesday returned no entries for Attabotics. The company has worked at several sites across North America with customers such as Canadian Tire. Earlier this year it settled its lawsuit against Canadian Tire over a March, 2023, warehouse fire after the start-up blamed the retail giant for the incident and accused it of damaging its reputation and business opportunities.
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