The maker of radio-jamming devices used against drones and remote-controlled bombs owes creditors more than US$80 million, says a court order, amid a decade of declining sales as western troops have withdrawn from the Middle East. (The Logic)

Talking point: Allen-Vanguard has been trying to find a buyer since 2023, the order says, and has one nibble but no more than that. Meanwhile, it’s been running on credit and advance payments against a shrinking order list and it’s finally hit a wall. At its peak as a publicly traded company in 2007, Allen-Vanguard made a $650-million acquisition of an Ottawa maker of bomb-disposal equipment. That transaction fell into messy litigation. In 2009, U.S. private equity firm Versa Capital bought Allen-Vanguard in a deal that paid off some of its debt but left shareholders with nothing. Before recent layoffs, it had about 40 employees in Canada and 10 in the United Kingdom, according to a filing in the case.

Sponsored Content

How to shift your workforce from AI experimentation to adoption

By Jessica Aftimus Rosa

The real-world economic offshoots of sovereign AI

By Deborah Aarts

Increasing healthcare access across Canada

By Deborah Aarts

Paid promotional content