TORONTO - The former president of bankrupt custom injection molder Alvo Industries Ltd. of Brampton, Ontario, is considering starting another plastics company. Joseph Constantino would not disclose specific plans but said forming a new company is possible.
Alvo Industries filed for bankruptcy April 26 after the firm's landlord seized its assets for nonpayment of back rent, said Robin White, account representative with trustee Perry Krieger & Associates Inc.
White said her company is trying to collect about C$100,000 (US$73,000) in receivables for the federal tax department, Alvo's major remaining creditor.
According to Constantino, a number of factors caused the bankruptcy, but would not give details.
Representatives with Alvo's landlord, De Gallo Developments of Brampton, would not comment.