Kitchener-Waterloo workforce training firm Uvaro and its subsidiary Lighthouse Labs have filed for bankruptcy, seven months after Uvaro acquired the coding school. Court documents cite unmet revenue forecasts, delayed government contracts, and rapid cash erosion.
Uvaro listed $1.6M in assets against $5.7M in liabilities, while Lighthouse Labs reported $230,000 in assets and debts exceeding $3M. Both companies ceased operations immediately, terminating all employees and halting courses. Lighthouse Labs, founded in 2013, trained 40,000 learners and received $20M in federal funding last year. Trustee GlassRatner is managing claims and student record transfers.
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