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.”

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