Bankrupt Ont. manufacturer to auction off assets

The assets of bankrupt Mississauga, Ont.-based injection molder Tri-Star Plastics Corp. will be auctioned off later this month. Infinity Asset Solutions will hold an auction at the bankrupt supplier’s molding facility on June 25.

Tri-Star filed for bankruptcy in May, according to the official notice of bankruptcy. The company noted that it owed nearly $5 million to secured creditors, and an additional $12 million to unsecured creditors. The company is estimated to have total assets of nearly $5 million at the time of its bankruptcy.

Tri-Star’s unsecured creditors consisted of a number of prominent industry names, including several resin suppliers.

The company, which was founded in 1993 and had nearly 150 employees, primarily served the automotive industry. The equipment for sale includes several large ton machines, and a number of smaller tonnage machines ranging from 60 to 750 tons.

For more information about the auction, visit the Infinity Assets website.

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