A Kasteel Construction and Coatings building in Yellowknife. Sarah Pruys/Cabin Radio
Yellowknife’s Kasteel Construction and Coatings is entering bankruptcy proceedings, its owner has confirmed.
The Edmonton office of accounting firm MNP will act as the company’s insolvency trustee.
Owner Trevor Kasteel said he was “not prepared to make a detailed statement” in a brief email to Cabin Radio on Tuesday, but confirmed that “Kasteel Construction and Coatings Inc has filed for bankruptcy.”
Around 30 to 35 employees are understood to be affected.
Some clients and staff were notified at the start of October that the company was ceasing operations.
Kasteel, formed almost 20 years ago, provided a range of construction services and held various repair and renovation contracts for housing projects across the territory.
More recently, the company introduced training programs designed to provide an alternative revenue stream and source of qualified workers.
No reason for the decision to seek bankruptcy protection was given, nor is the size of the company’s debt to its creditors clear.