BREAKING
Local manufacturer files for bankruptcy, former employees claim they’ve been terminated
The manufacturing company Injection Technologies Inc. has filed for bankruptcy and insolvency and a number of former Kitchener employees tell CTV News they have been terminated.
Injection Technologies is based out of Windsor but their Kitchener facility, located on Ardelt Place, goes by the name Inject Tech Plastics. Their website states in 2018, IT Group added Inject Tech Plastics and then acquired the company Moldco, which focuses on custom molding, in 2020.
According to documents obtained by CTV News, Injection Technologies Inc., has filed for bankruptcy and insolvency and their receiver is Deloitte.
According to those documents, one of which is dated May 17, 2023, Injection Technologies, Inject Tech Plastics and Moldco are distinct legal entities but they operate as a single entity in several ways. For example, Injection Technologies is the named tenant on the lease for the Kitchener facility.
The document notes that the operation in Kitchener is not currently profitable and a receivership will allow for both locations to be marketed as standalone entities.
The sign outside of Inject Tech Plastics in Kitchener, seen on May 29, 2023. (CTV News/Heather Senoran)
The document states that there are about 160 employees between both Windsor and Kitchener. It is unclear exactly how many people were terminated in either location. CTV News heard from numerous people who claimed they were given a termination letter after an emergency meeting on Friday.
CTV News received a copy of the termination letter from Deloitte, dated May 26, that states that the termination is following the receivership of Injection Technologies Inc. and Moldco.
They said the doors were locked after the meeting. On Monday, the doors to the Kitchener facility were still locked.
We reached out to Injection Technologies, Inject Tech Plastics and Moldco. We were told that Deloitte is the only one who can comment. We reached out to Deloitte who said they have no comment at this time.
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