News Fabrication
Antamex goes into receivership

Antamex Industries has been put into receivership by Ontario courts, according to an internal company memo and filings by Deloitte. Former president Ryan Spurgeon issued this message to employees:

While it appeared, we were on a path to overcome the prior noted issues, we have been unsuccessful in finding a new ownership group, capital partner and/or support for the organization to move forward in the current state. Every attempt has been made to breathe life into ANTAMEX, – and I assure you, until the final minute every stone was being turned over – we must accept reality head on; we ran out of time to retain new ownership or capital to continue operations as-is.

I begrudgingly and with heavy heart advise you, that as of 10am this morning [March 14], ANTAMEX has been placed into a court appointed Receivership.

Deloitte Restructuring has been granted receivership control of ANTAMEX and is the legal fiduciary of the organization from here on out. Phil Reynolds & Richard Williams of Deloitte, and their respective teams will be onsite today to take control of the organization, and to determine the future of the organization.

My time as the President of the organization is officially complete, and the legal stewardship of the organization is in the capable hands of Phil & Richard.

I cannot thank each one of you enough for your loyalty, service, commitment, and focus in making ANTAMEX what it is. I do not accept this outcome lightly; I am gut wrenched to humbly admit to you that I could not find a path forward for our organization and most importantly, our people. I appreciate that ANTAMEX moving into receivership is hard news to accept and the potential waves of emotions that will ensue, but I must ensure that you hold your head high. Be proud of what you have accomplished together, the complexities we have overcome, the mountains we have climbed to bring back the ANTAMEX brand, and please never lose your grit – it is what sets apart the people of ANTAMEX.

Again, I thank you for everything these past 5 years, and while it has been a rollercoaster ride of wins and losses, I leave ANTAMEX today with immense pride in you allowing me to steward this organization through the good and the bad. I genuinely hope that we cross paths again and will always remain available to each of you regardless of the outcomes herein.

More details to follow once the receiver’s report is filed.

Antamex has been removed from the schedule of Top Glass plant tours April 29. Efforts are underway to find an alternate facility for tour registrants.