Overview

• Ssense says a primary lender filed a creditor-initiated CCAA application seeking a sale without the company’s consent.
• Management plans to submit its own CCAA filing within 24 hours, with a court expected to hear both applications in the coming days and likely decide within about a week.
• The company attributes its cash squeeze to U.S. trade changes, including 25% tariffs on some Canadian imports and the closure of the de minimis duty-free rule taking effect Friday.
• Operations are set to continue during the process, with salaries and benefits to be paid until further notice.
• Consumer data shows sales fell about 28% year over year in the first half of 2025 following layoffs and benefit cuts, and the lender behind the filing has not been identified.