Bad Boy Furniture Warehouse fails to file proposal, is deemed bankrupt

Toronto-area furniture retailer Bad Boy Furniture Warehouse Ltd. is officially bankrupt.

In November, the company filed a notice of intention under the Bankruptcy and Insolvency Act, saying it aimed to restructure its business.

Later the same month, an Ontario court gave Bad Boy permission to begin liquidation sales.

It also gave the retailer until Jan. 23 to file its restructuring proposal.