Overview

• The court approval under the CCAA ends a push for a lender-led sale and moves the process to a company-run restructuring with the ability to solicit bids.
• The company secured $40 million in interim financing — $15 million from banks and $25 million from the Atallah family — to fund operations and payroll.
• Ernst & Young was appointed as monitor to oversee the restructuring and any potential marketing or investment process.
• Ssense carries roughly $371 million in debt, including significant obligations to banks and trade partners.
• Designers have tightened terms or held back orders as Ssense cites new U.S. tariffs and the loss of the $800 de minimis threshold as key drivers of its cash crunch.