13.5 million dollars in debt

Distillery du Saint Laurent in Rimouski is struggling with $13.5 million in debt and has taken steps to make a proposal to its creditors.

Journal Le Soir received the confirmation today St.Laurent Distillery They are in dire financial straits. Company co-owner and “brand admiral” Joel Pelletier, on March 15, in Rimouski, signed a notice of intent to make a proposal to creditors pursuant to the provisions of subsection 50.4 (1) of the Act. .

29 Creditors

The list we were able to contact included 29 lenders with more than $250 million for a total of $13.5 million. Among the largest were Investments Quebec, $3.85 million, entrepreneur Marcel Charest of Saint-Pascal $3.8 million, Desjardins Venture Capital $1.35 million and Canada Economic Development, with both returns totaling $529,000. Total $13,577,382.25.

Rimouski companies are also on the list of creditors, including surveying firm Pelletier and Couillard, Multisodures, Matrec (residual materials management), Amour Liquid (pocket cocktails) and Dickner tooling firm.

$11.5 million project

Last July, the Saint-Laurent Distillery opened new facilities at 135 avenue Père-Nouvelle in the Pointe-au-Père district of Rimouski. This $11.5 million project actually generated $9.5 million and 25 jobs. A $3.5 million loan from Investment Quebec, which is among the lenders, was granted to the distillery. Farm Credit Canada provided $3.5 million. Canada’s Economic Development is another source of public funding.

Jean Saint Laurent

The microdistillery started in 2015 on very modest grounds. But Distillery du Saint Laurent’s first product, Gin Saint Laurent, was an extraordinary success. Produced using seaweed from the river, St.Laurent is available in 14 countries worldwide, including Belgium, the Philippines, Singapore, Germany, the United States and Japan. It now produces seven different alcohols.

Generally

Business appears to be business as usual on the company’s website, where the coffee bar is open Thursdays, Fridays and Saturdays from 3pm to 9pm, according to the March schedule. The shop closed this month; Basic catering service will be provided, but distillery tours will be suspended until the next tourist season.

reactions

We tried to get a response from Mr. Pelletier, but were unsuccessful. We also tried to reach the file manager at Lemieux Nolet, Guillaume Therrien.