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Edmonton dental clinic chain goes into receivership after defaulting on loans
EDMONTON -- An Edmonton dental clinic chain has unexpectedly gone into receivership after it apparently failed to make loan payments.
Seven Infinity Group dental clinics were closed Monday with notices of receivership posted on their front doors.
The locations are:
- 9711 137th Ave.
- 10200 102 Ave.
- 830 Parsons Rd.
- 4224 Gateway Blvd.
- 10473 80 Ave.
- Unit R225, 8882 170 St.
- 2408 Rabbit Hill Rd.
Companies can go into receivership if they default on loan payments, allowing creditors to recover outstanding money by liquidating assets or selling a business.
"As a result of this order, the Receiver is taking possession of the assets, property, and undertakings of the Infinity Group, including the Infinity Dental Clinics, and evaluating its options with respect to continuing to provide services at the Infinity Dental Clinics during the receivership process," the notice read.
PricewaterhouseCoopers Inc., the court-appointed receiver, is also establishing a process for access to patient records.
The clinics will be monitored to ensure assets aren't removed without the approval of the receiver, according to the notice.
CTV News Edmonton has reached out to PricewaterhouseCoopers for more information.