EDMONTON, May 26, 2016 /CNW/ - Allarco Entertainment 2008 Inc. and Allarco Entertainment Limited Partnership (Allarco) announced today, after consideration of all available alternatives, that it is initiating a Court-supervised restructuring process under the Companies' Creditors Arrangement Act ("CCAA") in order to facilitate a restructuring and refinancing of its business operations. The Court of Queen's Bench of Alberta (the "Court") today granted Allarco CCAA protection for an initial period of 30 days, to expire on June 25, 2016. This initial 30 day period is subject to extensions, if granted by the Court, upon application by Allarco.
Allarco will continue to operate under CCAA protection, supervised by the Court appointed monitor PricewaterhouseCoopers Inc. (the "Monitor"). The Monitor will oversee Allarco's ongoing operations, liaise with creditors and other stakeholders, and assist with the development and filing of a formal plan of arrangement or compromise and attend to all Court reporting pursuant to the CCAA.
Enquiries may be directed to the Monitor at:
Suite 1501- 10088 102 Street
Telephone: (780) 441-6738
Attention: Mr. Sean Fleming
A copy of the Order and related Court documents will be made available on the Monitor's website at www.pwc.com/ca/allarco
Allarco Entertainment 2008 Inc., the general partner of Allarco Entertainment LP, is an Edmonton-based media company that owns and operates Super Channel, a national Canadian English pay television network, consisting of four HD channels, four SD channels, and Super Channel On Demand.
Further information can be obtained on the company's website at: www.allarco.ca
SOURCE Allarco Entertainment LP
For further information: Kim Ball, Publicity Manager, 416-302-6464, [email protected]