TPX (The Podcast Exchange), the Toronto-based podcast advertising reseller and branded content producer, has sent a letter to creditors notifying them that the company plans to file a Notice of Intention (NOI) under the Bankruptcy and Insolvency Act.
The NOI buys the company time to develop a proposal to its creditors as it works to stabilize the business, giving it an initial 30-day stay of proceedings as it works to ensure suppliers are paid so it can continue operating.
Founded in 2017 by Jean-Marie Heimrath (who retired as founding CEO in 2021) and Jeff Ulster (who is still listed on the company website as a strategic consultant), TPX was a pioneer in the Canadian podcast advertising space, most recently signing a deal with BBC…