Nautilus Fitness Canada Enters Receivership After Parent Company’s Bankruptcy
On November 15, 2024, Nautilus Fitness Canada, Inc. was placed into receivership following an application under section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43. Nautilus, a British Columbia company specializing in providing high-quality fitness equipment and solutions, was heavily supported by its parent company, BowFlex Inc., which initiated bankruptcy proceedings in the United States on March 4, 2024.
Given the company’s lack of operational capacity and the potential for significant product liability and warranty claims in Canada, the appointment of a receiver was deemed necessary to manage the assets and liabilities of Nautilus effectively. The Ontario Superior Court of Justice (Commercial List) appointed KSV Restructuring Inc. as the receiver without security.
Aird & Berlis represented Nautilus Fitness Canada, Inc., in the application for the appointment of a receiver, with a team led by Kyle Plunkett and including Samantha Hans (Financial Services).
