The Oakville, Ont.-based maker of weight-loss supplement Hydroxycut has been granted temporary relief from creditors in the U.S. and Canada. The company owes dozens of creditors more than $48 million in unsecured loans and Royal Bank of Canada $158 million in secured loans. (The Logic)

Talking point: The company, which has about 165 employees in Canada and a handful in the U.S. and U.K., sells a range of supplements in more than 90 countries. The bankruptcy proceedings follow a legal dispute with U.S. protein-powder-maker Orgain. In April 2024, a U.S. judge ordered Iovate to pay Orgain US$12.5 million in damages for copying the company’s labelling. When Iovate failed to pay, Orgain began garnishing payment from Iovate suppliers, including Walmart, which then withheld about $8 million in payment that Iovate needed for working capital. Iovate began defaulting on its loans and deemed it necessary to seek creditor protection while it tries to stabilize the business through a restructuring.