All assets of Markdale Tractor have been sold off, in a deal approved this week in the Ontario Court of Justice in Toronto.
Markdale Tractor had two locations — one in Markdale and a second in Alliston — with both going into receivership in December.
At the time, the company had over four million dollars in liabilities and roughly 1.5 million dollars in assets.
KPMG was the receiver appointed to handle the case and it worked out a deal with Brindley Auction Services of Dungannon for all remaining equipment in the two stores.
A spokesperson for KPMG declined to say how much Brindley paid for the equipment and other assets.
It is expected many of the more than 300 unsecured creditors will see little if any of the money they were owed by Markdale tractor.
Among the secured creditors who will get most of their money is the Royal Bank of Canada which was owed nearly one million dollars.
The sale of assets does not involved the buildings or land, which were leased in both locations.
When the company marked its 50th anniversary in 2010, Markdale Tractor employed 50 full time people.
About ten employees were thrown out of work when it went into receivership.
