Rodney Gelineau ordered to personally pay $1M for bankrupt storage company

Rodney Gelineau, the owner of the bankrupt Spare Room Co. Self Storage, has been ordered by a judge to personally repay more than $1,035,000 to uLoan. The ruling, issued by Justice Hewson on August 25, upholds a personal guarantee for the full amount of the loan, including accruing interest.

Spare Room Co. Self Storage, which operated in Oliver and Penticton, British Columbia, entered court-ordered receivership in April 2026. This followed an application from uLoan regarding over $736,000 in unpaid debts. The company's financial difficulties included the foreclosure of its Penticton location and rent arrears for its Oliver locations owed to the Osoyoos Indian Band. Additionally, Gelineau noted debts owed to the Canada Revenue Agency regarding GST and payroll withholdings.

Gelineau had attempted to argue that his personal liability was limited to $150,000 of the original $600,000 loan based on email correspondence. However, Justice Hewson rejected this argument, stating that the emails did not contain language suggesting a restriction on his liability or an amendment to the executed personal guarantee.