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.
CTVNews.ca Top Stories
Doctors say capital gains tax changes will jeopardize their retirement. Is that true?
The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are.
Something in the water? Canadian family latest to spot elusive 'Loch Ness Monster'
For centuries, people have wondered what, if anything, might be lurking beneath the surface of Loch Ness in Scotland. When Canadian couple Parry Malm and Shannon Wiseman visited the Scottish highlands earlier this month with their two children, they didn’t expect to become part of the mystery.
Fair in Ontario, flurries in Labrador: Weather systems make for an erratic spring
It's no secret that spring can be a tumultuous time for Canadian weather, and as an unseasonably mild El Nino winter gives way to summer, there's bound to be a few swings in temperature that seem out of the ordinary. From Ontario to the Atlantic, though, this week is about to feel a little erratic.
What do weight loss drugs mean for a diet industry built on eating less and exercising more?
Recent injected drugs like Wegovy and its predecessor, the diabetes medication Ozempic, are reshaping the health and fitness industries.
He replaced Mickey Mantle. Now baseball's oldest living major leaguer is turning 100
The oldest living former major leaguer, Art Schallock turns 100 on Thursday and is being celebrated in the Bay Area and beyond as the milestone approaches.
What a urologist wants you to know about male infertility
When opposite sex couples are trying and failing to get pregnant, the attention often focuses on the woman. That’s not always the case.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Made-in-Newfoundland vodka claims top prize at worldwide competition
A Newfoundland-made vodka has been named one of the world’s best by judges at this year’s World Vodka Awards.