US EditionEverest Toys placed into receivership after bank ends lending relationship: docs
Everest Toys defaulted on $25 million loan to TD Bank, leading to the appointment of Spergel Inc. as receiver after the entire board resigned in August 2025.
- Canadian toy distributor Everest Toys, based in Ancaster, Ontario, was placed into receivership in August 2025 after TD Bank ended its lending relationship.
- TD Bank sought receivership due to Everest's deteriorating financial circumstances, failure to meet lending agreements, and the resignation of the entire Board of Directors in August.
- The receivership appoints Spergel Inc. to manage Everest's assets and recover creditor funds, while the company has longstanding ties to major toy makers like Hasbro and Mattel.
- By late August 2025, the toy company owed TD Bank approximately $25 million, and the bank characterized the business as lacking direction and unable to cooperate toward a mutually advantageous resolution.
- The receivership highlights mounting pressures on the Putman retail holdings, and whether Everest can be restructured or sold remains uncertain.
12 Articles
12 Articles
Winnipeg Free Press
Everest Toys placed into receivership after bank ends lending relationship: docs
Breaking News, Sports, Manitoba, Canada
Everest Toys Placed in Receivership Amid Putman Group Struggles
Everest Toys, a key Canadian toy distributor, has entered receivership as financial pressures mount for the Putman family’s retail empire. The post Everest Toys Placed in Receivership Amid Putman Group Struggles appeared first on Retail Insider.
'Rudderless' Everest Toys Placed into Receivership in Canada
It’s official: Everest Toys is in receivership. On August 26, 2025, the day The Toy Book first broke news of the collapse of the 33-year-old toy distributor, TD Bank filed a motion for the appointment of a receiver over Everest Toys’ property. The move comes after Everest defaulted on a loan issued by TD. The motion was granted the following day by The Honorable Justice Osborne in the Ontario Superior Court of Justice, with Spergel Inc. appoin…
Coverage Details
Bias Distribution
- 38% of the sources lean Left, 38% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
