A Saskatoon court has approved the sale of Ram Industries Inc.’s property and assets in Yorkton, following the company’s bankruptcy.
The buyer, Parkland Welding and Machine, acquired the assets for an undisclosed price after a months-long bidding process.
Ram Industries, along with its sister company Leon Manufacturing, had been struggling with cash flow issues for years. Leon faced numerous customer complaints over unfulfilled orders, leading to legal disputes.
Court documents show Leon’s liabilities at nearly $19 million, with assets estimated at $6.5 million, while Ram owed $17.7 million against $5 million in assets.
Some of Leon’s assets were sold during receivership, but further details remain sealed pending additional sales.