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You may recall the story of some Winnipeg entrepreneurs who developed a self-closing toilet seat. But now after much fanfare, the company has been forced into receivership. (See Put the Toilet Seat Down)

Tim Seniuk and his company wanted to take the toilet seat world by storm. The Considerate Seat lowered itself automatically after a man uses the toilet.

The company, Senlund Corporation, attracted investments worth hundreds of thousands of dollars.

The project was launched with the help of then Premier Gary Filmon. At the time Filmon joked he would use it in his next "throne" speech.

The Considerate Seat hit the stores and some 45,000 were sold across the country. Ensis Investment Fund sunk just under a million dollars into the company in 1998.

But the company is no longer flush with money.

Senlund Corporation is in receivership. It has moved out of its building on Sutherland Avenue. The board of directors has been dissolved and the Bank of Nova Scotia has called in a receiver, Deloitte and Touche, to figure out the value of the assets.

Company CEO Tim Seniuk told CBC the 55 employees were laid off nine months ago. The company had built up an inventory of 40,000 seat closers.

Seniuk says they overestimated the amount of time it would take to break into the U.S. market.

Now there are about 70 businesses that are owed money by Senlund.

No word on how or if they'll be paid.

The receiver, Deloitte and Touche is trying to find a buyer for the company.

Tim Seniuk hopes he can work out a refinancing deal and get back in business.

Larry's NOTE: Sorry, guys. You'll just have to put the toilet seat down yourself. Put a "Post It®" on your bathroom mirror to remind you!

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