Another Quebec-based furniture company says it is ceasing manufacturing operations effective immediately as its lenders move to appoint a court-supervised receiver to wind down the business.
The company said the Fédération des caisses Desjardins du Québec is expected to seek a court order on May 4 to appoint PricewaterhouseCoopers Inc. as receiver under the Bankruptcy and Insolvency Act.
eSolutions, which includes Bush Business Furniture, Bush Furniture and Bestar, said the proposed receiver would oversee an orderly wind-down and sale of assets through a court-supervised process.
The company said the shutdown will result in job losses, with some positions ending immediately and others phased out over the coming weeks.
It said all employees will be paid wages owed up to their termination date and will receive further details on final pay and benefits.
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eSolutions said it had explored restructuring and sale options with lenders but was unable to find a viable path forward.
The company cited worsening financial conditions since 2021, including U.S. tariffs, reduced post-pandemic demand, increased offshore competition and ongoing cash constraints.
It also said it has been unable to make interest payments to lenders for more than a year.
This comes after South Shore Furniture announced Monday that it would end all operations after a 77-per cent drop in sales between 2022 and 2025, bringing 86 years of manufacturing in the province to a close. South Shore Furniture also cited U.S. tariffs as a reason for its closure.
eSolutions said limited operations will continue during the wind-down. Customers and suppliers are being directed to the receiver, subject to its appointment, for claims and further instructions.
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