Skip to content
Co-founders and brothers Rami, Bassel and Firas Atallah, along with an unnamed strategic investor, will regain control of the Montreal-based luxury fashion retailer when it emerges from bankruptcy protection, the company announced Sunday. The transaction is expected to close by Feb. 13. (The Logic)
Talking point: Ssense entered insolvency proceedings under the Companies’ Creditors Arrangement Act in September, after years of mounting losses and a sudden cash crunch. Its lenders—to whom the company owed $371 million—initially pushed for a quick sale, while its co-founders were intent on retaining the business. The company, which declined to comment, said the monitor’s latest decision marked “an important milestone that helps us move forward with greater clarity and confidence,” according to an internal email viewed by The Logic. “This outcome will allow us to provide continuity and stability for our customers, suppliers, partners, and you, our employees.”
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Analysis
Canada’s counter-tariffs would hit the Prairies hard, trade data shows
Briefing
Canada’s economy sees sharp Q2 rebound
OpenAI, 1Password, Shopify and other tech firms call for ‘collective response’ to AI attacks
Indian finance minister seeks more Canadian money in infrastructure, renewables and startups
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
