Monette Seeds Ltd. will no longer be licensed by the Canadian Grain Commission effective May 1, 2026, following its filing for protection under the Companies’ Creditors Arrangement Act (CCAA).
In a website notice posted Thursday, the CGC said the company’s primary elevator licence at Swift Current, SK, will not be renewed.
The regulator is urging producers who are owed money for grain deliveries to contact its Safeguards for Grain Farmers Program immediately, while those holding open contracts with Monette Seeds are being directed to the court-appointed monitor.
Monette Farms recently sought creditor protection under the CCAA, a Federal Act that allows financially troubled corporations the opportunity to restructure their affairs. By allowing the company to restructure its financial affairs, through a formal Plan of Arrangement, the CCAA presents an opportunity for the company to avoid bankruptcy and allows the creditors to receive some form of payment for amounts owing to them by the company. Unlike bankruptcy, CCAA proceedings are intended to give companies time to stabilize finances, negotiate with creditors, and potentially preserve jobs and business value.
In statements surrounding the filing, Monette cited volatile commodity markets, rising input costs, and higher interest rates as key reasons for seeking protection.
