Alberta-based Sunterra Group, with a portfolio of grocery stores and meat processing facilities, has closed its second store in a few months.
In May, Sunterra closed its downtown Edmonton location on Jasper Avenue after three decades in business. And it has now shut down its Red Deer location in Bower Place.
The company recently went through a court-approved for sale or investment process within its court-supervised restructuring proceedings under the Companies’ Creditors Arrangement Act (CCAA).
In a Facebook post, the company said: “After five incredible years in Red Deer, we’ve made the difficult decision to close our Bower Place market on Saturday, September 26.
“We were first welcomed into the Red Deer community in 2021 and we’re so grateful for the support we’ve received ever since. A huge thank you to our customers for being part of our journey, and to our amazing team members for everything you’ve put into making our market what it was. We truly couldn’t have done it without you.
“Sunterra Market continues to operate a strong network of five markets in Calgary and one in Edmonton, serving customers across Alberta with fresh groceries, chef-prepared foods and a broad selection of locally and thoughtfully sourced products. These markets remain an active and important part of Sunterra’s business, with teams continuing to serve their communities every day. We hope to welcome you at another location soon.
“We thank the Red Deer community for its support and wish to recognize everyone who contributed to the Bower market during its time in operation.”
Sale and investment solicitation process
In April, the Court of King’s Bench granted the sale and investment solicitation process for the company with a portfolio of agriculture and food businesses in Alberta including a multi-generational pork production operation with more than 595,000 square feet of barn infrastructure on 1.150 acres of land across eight facilities and a premium grocery retailer operating seven “farm-to-fork” market locations.
Interested parties who wanted to pursue this opportunity were given a deadline of June 25 to submit a letter of intent to the sale advisor, KPMG Corporate Finance Inc. The next phase involves the assessment of those submissions.
FTI Consulting Canada Inc. is the court-appointed monitor.
There has been no update regarding the sale process on the monitor’s website.
In February Retail Insider reported that an Alberta judge ruled that Sunterra engaged in cheque kiting on what the court described as an “astonishing scale,” finding the company liable to U.S. agricultural lender Compeer Financial for approximately $35 million.
In a decision issued on January 27 by the Court of King’s Bench in Calgary, Justice Michael Lema also held Sunterra’s president personally responsible for the debt, marking a significant escalation in the legal and financial pressures facing the vertically integrated agri-food group, said the news story.
The ruling arrived as Sunterra continued to restructure under court supervision following months of financial strain, lender disputes, and operational disruption. While the decision focuses on conduct between Canadian and U.S. affiliates and lenders, it carries implications for the broader Sunterra group, including its premium Sunterra Market grocery stores across Alberta, said the story.
Company launched in 1990 in Calgary’s downtown
In his written decision, Justice Lema likened the financial practices at issue to a game of musical chairs where there are not enough seats when the music stops. He concluded that Sunterra’s Canadian entities fraudulently misrepresented the availability of funds behind cheques sent to the United States, inducing Compeer to continue honouring payments that were not backed by actual cash balances.
Founded in 1970 by the Price family, Sunterra traces its origins to Pig Improvement Canada, a hog-production business built on higher-standard farming practices. The company launched Sunterra Meats and Sunterra Market in 1990, the latter debuting in downtown Calgary’s Bankers Hall with a European-style market concept that emphasized fresh food, in-house production, and premium positioning.
In 2025, Sunterra filed a Notice of Intention (NOI) to make a proposal under the Bankruptcy and Insolvency Act (BIA) and Harris & Partners was appointed as Proposal Trustee.
Court documents indicated the company had more than 200 creditors with liabilities of $18.9 million.
More from Retail Insider:
