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Here's why Montreal’s SSENSE filed for bankruptcy protection | The Main

The Collapse of Cool? SSENSE Files for Bankruptcy Protection

Version Anglaise

Montreal’s fashion e-commerce giant fights to stay in control after creditors move to force a sale.

28 août 2025 · 1 min de lecture

The collapse of cool? SSENSE files for bankruptcy protection

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Montreal-based fashion retailer SSENSE is filing for creditor protection under Canada’s Companies’ Creditors Arrangement Act (CCAA) following a failed bid to reach a restructuring deal with its lenders. The move follows an attempt by creditors—led by Bank of Montreal—to force a sale of the company, a step SSENSE says it did not consent to.

In an internal memo sent Thursday, CEO Rami Atallah told employees the company is facing “an immediate liquidity crisis that no short-term solution could address.” The CCAA filing is intended to allow SSENSE to maintain control over its operations while it develops a restructuring plan with legal and financial advisors.

The retailer has blamed its financial troubles in part on new U.S. trade policies, including the elimination of the de minimis exemption, which previously allowed goods under $800 to enter the U.S. duty-free. That exemption ends Friday, a blow to SSENSE's U.S.-based business, which relies heavily on cross-border e-commerce.

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The Collapse of Cool? SSENSE Files for Bankruptcy Protection

Version Anglaise

Montreal’s fashion e-commerce giant fights to stay in control after creditors move to force a sale.

28 août 2025 · 1 min de lecture

The collapse of cool? SSENSE files for bankruptcy protection

The Main est soutenu par ses lecteurs. Les abonnements sont ce qui nous permet de rester indépendants. Cinq dollars par mois — les restaurants, les guides, le bulletin hebdomadaire et que faire chaque week-end. Soutenez-nous aujourd'hui. Soutenez-nous aujourd'hui.

Montreal-based fashion retailer SSENSE is filing for creditor protection under Canada’s Companies’ Creditors Arrangement Act (CCAA) following a failed bid to reach a restructuring deal with its lenders. The move follows an attempt by creditors—led by Bank of Montreal—to force a sale of the company, a step SSENSE says it did not consent to.

In an internal memo sent Thursday, CEO Rami Atallah told employees the company is facing “an immediate liquidity crisis that no short-term solution could address.” The CCAA filing is intended to allow SSENSE to maintain control over its operations while it develops a restructuring plan with legal and financial advisors.

The retailer has blamed its financial troubles in part on new U.S. trade policies, including the elimination of the de minimis exemption, which previously allowed goods under $800 to enter the U.S. duty-free. That exemption ends Friday, a blow to SSENSE's U.S.-based business, which relies heavily on cross-border e-commerce.

Free account required

Pour ceux qui ont Montréal à cœur

Créez un compte gratuit pour lire cet article et accéder à 3 articles par mois, ainsi qu'à notre Bulletin hebdomadaire.

Indépendant. Local. Soutenu par ses lecteurs.

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Share your thoughts and join the conversation. Please be respectful and constructive.

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