Canada Tire Company Inc. and Canada Supply & Tires NS Inc.
Follow- Proceeding
- CCAACompanies' Creditors Arrangement Act, RSC 1985, c C-36
- File
- 500-11-067538-260
Canada Tire Company Inc. and Canada Supply & Tires NS Inc. have been under CCAA protection since July 20, 2026, when an initial order was granted with a stay running to July 30, 2026. A further order on July 29, 2026 extended the stay to September 30, 2026, and a bid deadline of September 15, 2026 has been set. Audited entity-level statements for Canada Tire Company Inc. as at December 31, 2025 show total assets of $34,112,000 against total liabilities of $37,852,000, an equity deficit of $(3,739)K; internal unaudited figures as at May 31, 2026 show assets of $26,267K, liabilities of $32,264K and a deficit of $(5,997)K. FGI Financial holds an asset-based operating line secured against accounts receivable and inventory, with $13.6M outstanding as at June 30, 2026 and collections swept daily through a blocked account. The proceeding remains active.
Approved transfer of six life insurance policies from Canada Tire to Gabriel Granatstein, vesting free and clear on the Monitor's certificate, and sealed the unredacted Transfer Agreement and the policies.
Source: Approval and Vesting Order
Application for the issuance of an Approval Vesting Order — Application / notice of application
Application for the issuance of an Order for the Orderly Wind-Down — Application / notice of application
Granted a further interim order on the day the stay was due to lapse; the stay now runs to October 14, 2026.
Source: Stay Extension Order
Extended the stay with the solicitation process approved on July 20, 2026 still requiring additional time to complete and no bid yet selected.
Granted further interim relief the same day as the stay extension, with MNP Ltd continuing as monitor and FGI as interim lender.
Continued the stay of proceedings for both applicants while the solicitation process ran toward its September 15, 2026 bid deadline.
Motion for an Order Compelling Canpar Express to Continue Services and Comply with the Initial Order — Application / notice of application
Motion for an Order compelling Clasquin Canada Inc. to release goods and comply with the Initial Order — Application / notice of application
Extended the stay of proceedings past its July 30 expiry, carrying protection through to September 30, 2026.
Approved and ratified a sale and investment solicitation process covering the whole business, run with Richter LLP as financial advisor, with bids due September 15, 2026.
Source: Court Order relating to the Sale or Investment Sollicitation Process (SISP)
Placed both companies under CCAA protection in Court File No. 500-11-067538-260, appointed MNP Ltd as monitor, stayed proceedings to July 30, 2026 and approved an interim financing term sheet with FGI as interim lender.
Source: Initial Order
Canada Tire Company Inc. and Canada Supply & Tires NS Inc. — CCAA filed, Quebec.
Source: Initial Order
Application for the issuance of a first day Initial Order, an Amended and Restated Initial Order and a SISP Order — Amended and restated initial order
Outcome brief
Canada Tire: the court keeps MNP and turns down FGI's receiver
On October 24 the court dismissed FGI Worldwide's application to replace MNP with Raymond Chabot, an affiliate of FGI's financial advisor, and granted Canada Tire's wind-down under MNP, with costs against FGI. FGI called the wind-down's projections unreliable; the court said the circumstances "support the inference" that FGI's application was motivated, "at least in part", by an "ulterior purpose".
Case update
Canada Tire: who should control the liquidation
Canada Tire's relaunched sale process drew no acceptable offer. On October 8 the company applied to sell its own stock through the winter with MNP as final decision-maker on strategy and material pricing; FGI, which says it was owed $16,570,353.63 on October 7, called the plan "neither credible nor realistic" and applied for a receiver.
Case update
Canada Tire: settling for the tires still at sea
Two of Canada Tire's tire suppliers have now settled their fights over winter stock in transit — Unicorn on August 19, and Maxtrek, whose 21 contested containers carry US$755,014.16 in invoices, on September 1 — with the price of the disputed goods paid to the Monitor in trust and the interim lender FGI's objection reserved until the sale process shows whether it still matters.
Case update
Canada Tire: sixty thousand tires, and a telex nobody has sent
Nine days into Canada Tire's CCAA, the Monitor reports that 19.7% of the winter tire bookings are unsecured and that containers already owned by the company are sitting at the Port of Vancouver. Justice Castonguay doubled the interim facility and ordered a supplier to keep shipping.
Filing brief
Canada Tire: the year is decided in July
Québec requires winter tires by December 1, so a tire distributor orders its whole season by mid-July. Canada Tire — founded in 1928, run by the founder's great-grandson — spent this July fighting its lender over a $1.25 million overadvance instead, and filed for CCAA protection on the 17th.
Debtor
Canada Tire Company Inc. and Canada Supply & Tires NS Inc.
Monitor
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Castonguay | Superior Court of Québec | 7 orders, Jul 2026 – Sep 2026 | 27 cases on record |
| Justice Pinsonnault | Superior Court of Québec | 5 orders, Sep 2026 – Oct 2026 | 31 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorMNP | Lavery, De Billy, LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| ApplicantCanada Tire Company Inc. and Canada Supply & Tires NS Inc. | Stikeman Elliott LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| Interim lender | Cassels Brock & Blackwell LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| CreditorFGI WorldWide LLC | Blake, Cassels & Graydon LLP | 20 Jul 2026 | Service list · 20 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | FGI Worldwide LLC (revolving facility, senior secured creditor) · in 3 casesHypothec dated March 9, 2026, which expressly covers the rights under the life insurance policies listed in its Schedule C; senior secured creditor over the Debtors' assets — Amount is FGI's pleaded indebtedness "à parfaire" as at October 7, 2026 (Receivership Application para. 19). It includes a $750,000 termination fee charged while FGI was demanding repayment, default interest from June 1, 2026 and legal, consulting and field-examination fees, all of which the Debtors dispute. The Monitor's own figure is approximately $14.3 million including interest and charges but excluding the terminatio · as of 7 Oct 2026 | $16.6M | Monitor's Second Report |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
100 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansSale approved — Court approved the Transaction transferring six life insurance policies from Canada Tire to Mr. Gabriel Granatstein, vesting free and clear upon the Monitor's CertificateApproval and Vesting Order · 14 Oct 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Mr. Gabriel Granatsteinthe life insurance policies described in Schedule 'A' hereof (the 'Life Insurance Policies') · asset sale · agreement 8 Oct 2026 | Subscribers | Approved14 Oct 2026 | Approval and Vesting Order |
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Order
| PDF · Subscribers | |
Re-Re-Re-Amended and Restated Initial Order
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Order for the Cancellation and Reduction of Security Registrations (French only)
| PDF · Subscribers | |
Monitor's Second Report
| PDF · Subscribers | |
Application for the issuance of an Approval Vesting Order
| PDF · Subscribers | |
Application for the issuance of an Order for the Orderly Wind-Down
| PDF · Subscribers | |
Application to appoint a Receiver
| PDF · Subscribers | |
Stay Extension Order
| PDF · Subscribers | |
Re-Re-Amended and Restated Initial Order
| PDF · Subscribers | |
Application for the Homologation of a Transaction and to Amend the Re-Amended and Restated Initial Order
| PDF · Subscribers | |
Order for the Homologation of a Transaction
| PDF · Subscribers | |
Re-Amended and Restated Initial Order
| PDF · Subscribers | |
Order compelling Canpar Express to continue services and comply with the initial order
| PDF · Subscribers | |
Motion for an Order Compelling Canpar Express to Continue Services and Comply with the Initial Order
| PDF · Subscribers | |
Motion for an Order compelling Clasquin Canada Inc. to release goods and comply with the Initial Order
| PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
Monitor's First Report
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Court Order relating to the Sale or Investment Sollicitation Process (SISP)
| PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Application for the issuance of a first day Initial Order, an Amended and Restated Initial Order and a SISP Order
| PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Canada Tire Company Inc. and Canada Supply & Tires NS Inc.” (CCAA), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/canada-tire-company-inc-and-canada-supply-tires-ns-inc