December 10, 2023

The Queens County Citizen

Complete Canadian News World

Nervous creditors: Legal hypotheses are multiplying against the Huot Group

Nervous creditors: Legal hypotheses are multiplying against the Huot Group

Less than a week after Millennium Construction, owned by Hutt Group in Quebec City, stopped work, legal bills have reached more than $7 million and are growing from suppliers who want to make payments.

• Also Read: Many construction sites are on hold for Groupe Huot

According to Terram Technologies, which continuously monitors land registers, there were more than 44 legal mortgages in three days, mainly to Millennium Construction for about $7.3 million.

For many companies, stoppages in construction sites and non-payment of dues can have a huge impact. This was notably the case of Armoires Orleans in Quebec, which recorded a statutory presumption of $787,981.

“This situation puts us in a very vulnerable position. (…) We must review the business plan. We just bought the business. We are young entrepreneurs. It changes perspectives. It’s sad and it’s a pity as a situation. We feel lucky to be strong, because the company 35 years running and we’re well rounded, but it hurts,” said co-owner Joni Tremblay.

She and her partner Francois Bouchard bought Armoires Orléans last June. The company has designed and installed kitchen and bathroom cabinets for Phase 1 of the Ariela project and is currently awaiting payment.

“This is a business relationship imposed on us because it is a contract signed by the former owners,” she added.

“We tell each other, they always take too long to pay. Their deadlines are rarely respected,” says tremble

Maxi-Passage of Levis recorded a legal hypothesis of $568,861 for five projects. The shutdown of Millennium construction sites forced the company to lay off thirty workers.

READ  5 services that SAAQ cannot provide as of February 20

“We will meet with the employees to explain the situation,” said Carl Tanguay, the president, who noted that his client’s payments have been difficult since last fall.

Last week, Huot Group put most of the construction sites on hold pending the establishment of a new governance structure. We know that the company has secured private financing to restart its operations. Groupe Huot declined our interview request.

Do you have any information to share with us about this article?

Got a scoop that our readers might be interested in?

Write us or call us directly 1 800-63SCOOP.

About The Author