Claire’s Stores Canada Corp.
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CV-25-00748871-00CL
- Industry
- Retail · Apparel, footwear & jewellery retail
Claire's Stores Canada Corp. obtained CCAA protection from the Ontario Superior Court of Justice (Commercial List) on August 6, 2025 under Court File No. CV-25-00748871-00CL, with KSV Restructuring Inc. (Mitch Vininsky) as monitor. The initial order stayed proceedings to August 15, 2025 and granted an administration charge to a maximum of $400,000 and a directors' charge to a maximum of $2,900,000. The court approved a sale to Claire's Essentials Canada Corp. on September 16, 2025; that transaction closed September 18, and the company ceased operations on September 23, 2025 following completion of the liquidation sale. A claims process approved November 14, 2025 carries a claims bar date of February 18, 2026. The proceeding remains active, most recently before the court on May 13, 2026.
The claims bar date has passed — claims were due by
Per the Claims Procedure Order dated November 14, 2025 dated 14 November 2025.
Creditors' meeting set for the plan of arrangement, under which affected creditors other than Claire's Liquidating Trust are estimated to receive approximately $1.36 million to $1.45 million, or 58% to 62% of proven claims.
Source: Meeting Order - 6045073 Cananda Inc. - Cavanagh .J - 14-Sep-2026
Under the same plan, Claire's Liquidating Trust is estimated to recover 7% to 9% on the Claire's US Allowed Claim; equity and other intercompany claimants neither vote nor receive distributions.
Interim order granted, with the stay of proceedings extended to March 12, 2027.
Source: Stay Extension and Ancillary Relief order dated September 14, 2026
Monitor's Fifth Report: the applicant no longer carries on business; with approximately $4,370,000 in hand at August 28, 2026, its remaining work is the claims process and distribution planning ahead of the September 14, 2026 stay expiry.
Plan of Compromise and Arrangement dated September 4, 2026 — Plan of arrangement / compromise
Court granted a further order in the proceeding, the most recent step on the record.
Source: Stay Extension and Ancillary Relief Order dated May 13, 2026
The officer filed report no. Fourth Report. The Applicant ceased business operations on September 23, 2025 and has no employees or directors and officers; the Monitor is administering the claims process, working to resolve landlord and intercompany claims, and preparing a plan of compromise, with remaining costs funded from estate cash.
Monitor filed a further report, its fourth, in advance of the May 13, 2026 attendance.
Source: Claires - Fourth Report of the Monitor dated May 8, 2026
Court approved a claims process for the applicant, under which claims are subject to a bar date of February 18, 2026.
Further order granted on the same November 14 attendance.
Source: Expansion of Monitor's Powers Order dated November 14, 2025
Additional order granted November 14, 2025.
Source: Stay Extension and Ancillary Relief Order dated November 14, 2025
Monitor reported that the sale transaction closed September 18, 2025, that the applicant ceased operations September 23, 2025 after the liquidation sale concluded, and that its remaining directors and officers resigned or were removed November 7, 2025, leaving no employees.
Monitor's Certificate re Lease Assignment dated September 30, 2025 — Court officer certificate
Monitor's Certificate (Closing and Lease Assignment) dated September 18, 2025 — Court officer certificate
Court approved the sale transaction to Claire's Essentials Canada Corp., the purchaser under the purchase agreement.
Monitor reported on the period since the comeback hearing: liaison with the restructuring advisor on operations, monitoring of receipts and disbursements, review of weekly cash flow reporting and variance analyses, and responses to stakeholder inquiries.
Source: Second Report of the Monitor dated September 15, 2025
Motion Record of the Applicant dated September 10, 2025 — Application / notice of application
At the comeback hearing the court extended the stay of proceedings to November 14, 2025.
Source: Amended and Restated Initial Order dated August 15, 2025
At the comeback hearing, on the expiry of the initial stay, the court granted further relief in the proceeding.
Source: Liquidation Sale Approval Order dated August 15, 2025
Monitor reported ahead of the August 15 comeback hearing, describing plans for an orderly liquidation of remaining store inventory using a third-party liquidator and the vacating of those premises, while preserving flexibility to pursue refinancing, sale or restructuring.
Motion Record of the Applicant, Claire's Stores Canada Corp. dated August 13, 2025 — Application / notice of application
Claire's Stores Canada Corp. filed its notice of application dated August 6, 2025 seeking protection under the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice (Commercial List).
Initial order commenced the CCAA proceeding, appointed KSV Restructuring Inc. as monitor, stayed proceedings to August 15, 2025, and granted an administration charge to a maximum of $400,000 for the monitor, its counsel, the applicant's counsel and the restructuring advisor, plus a directors' charge to a maximum of $2,900,000.
Guide
CCAA vs bankruptcy vs receivership: what's the difference in Canada
When a Canadian company can't pay its debts, it can restructure under the CCAA or a proposal, its lender can put in a receiver, or it can go bankrupt. Who controls the business on each route, who decides, how long it takes and what creditors get, drawn from the court record.
Guide
What happens to gift cards when a company goes out of business in Canada
When a Canadian store chain files for creditor protection, a court order decides how long its gift cards still work — often about two weeks. What happens after that, and to deposits, refunds, points and bookings, drawn from the 20 retail chains that went to court since 2023.
Guide
What to do when a company that owes you money goes bankrupt in Canada
When a Canadian company that owes you money goes bankrupt or into creditor protection, what you actually get back is usually a fraction of the debt, often nothing, and only if your claim is in on time. How to find the case, file a claim, meet a bar date, vote on a plan, take back goods and get paid, drawn from the court record.
Case update
Claire's Canada: 548 creditors, and a blank proxy counts as yes
Justice Cavanagh accepted the plan for filing on September 14, approved the settlement with the American parent's liquidating trust and extended the stay to March 12, 2027 — and the materials dated September 18 tell 548 creditors what they are being asked to approve: approximately 58% to 62% of their proven claims, a proxy due at 5:00 p.m. on November 10, and a proxy returned without instructions counted as a vote in favour.
Case update
Claire's Canada: 62 cents on the plan, 12 in a bankruptcy
The American parent's liquidating trust filed a $72.59 million claim against the Canadian company that once ran 103 stores. On September 3 it settled for $32.15 million, gave up the whole promissory note, and agreed to take nothing from the first $1,374,600 distributed — which is the difference between ordinary creditors recovering 62 cents on the dollar and recovering 12.
Debtor
Claire’s Stores Canada Corp.
Monitor
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 9 orders, Aug 2025 – Nov 2025 | 132 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Sep 2026 | 318 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, May 2026 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorKSV | Goodmans LLP | 3 Feb 2026 | Factum · 11 May 2026 |
| ApplicantClaire’s Stores Canada Corp. | Kirkland & Ellis LLP · Osler, Hoskin & Harcourt LLP | 6 Aug 2025 | Service list · 3 Feb 2026 |
| CreditorAWS Claire's LLC | Blake, Cassels & Graydon LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| CreditorBentallGreenOak (Canada) LP and QuadReal Property Group | Blaney McMurtry LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| CreditorCadillac Fairview Corporation | Torys LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| CreditorClaire's Liquidating Trust | Kelley Drye & Warren LLP | 4 Sep 2026 | Service list · 4 Sep 2026 |
| CreditorCrombie Developments Limited | Gardiner Roberts LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| CreditorHilco Canada | Cassels Brock & Blackwell LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| CreditorMorguard, RioCan, Ivanhoe Cambridge, Salthill and Cushman & Wakefield | Camelino Galessiere LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| CreditorOxford Properties Group | Thornton Grout Finnigan LLP | 3 Feb 2026 | Service list · 3 Feb 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Directors' Charge — Second – Directors’ Charge (to the maximum amount of $2,900,000) | $2.9M | Initial Order dated August 6, 2025 |
| 1 | Court-ordered charges | |||
| Pre-filing debt | ||||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
4 more claims in 2 classes The stack holds Court-ordered charges and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans3 transactions · 2 closed · 1 not completed — Sale Transaction closed with the Canadian Purchaser acquiring the Canadian Acquired Assets and assuming 73 of 77 eligible leasesFifth Report of the Monitor dated September 4, 2026 · 4 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| unnamedfour Eligible Canadian Leases (the Rejected Stores) · ResidualCo: 6045073 Canada Inc. | not stated | Not completed30 Sep 2025 | Third Report of the Monitor dated November 12,… |
| AWS Claire's LLCthe applicable Acquired Assets (as defined in the Purchase Agreement and Canada Letter Agreement), including the Eligible Canadian Leases · asset sale · nominee/assignee: Claire's Essentials Canada Corp. · agreement 18 Aug 2025 | Subscribers | Closed | Fifth Report of the Monitor dated September 4,… |
| Claire's Essentials Canada Corp.all of the Applicant's right, title and interest in and to the applicable Acquired Assets · asset sale · agreement 18 Aug 2025 | Subscribers | Closed30 Sep 2025 | Fifth Report of the Monitor dated September 4,… |
Unsecured creditors: a distribution. Claire's Liquidating Trust a distribution.EstimatedFifth Report of the Monitor · 4 Sep 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Affected Creditors (other than Claire's Liquidating Trust) | — | of proven claims | Estimatedper the monitor | Fifth Report of the Monitor · 4 Sep 2026 |
| Unsecured | Persons holding Intercompany Claims | — | no distribution | Under the planvote pendingper the debtor | Plan of Compromise and Arrangement · 4 Sep 2026 |
| Unsecured | Claire's Liquidating Trust | — | Estimatedper the monitor | Fifth Report of the Monitor · 4 Sep 2026 | |
| Equity | Persons holding Equity Claims | — | no distribution | Under the planvote pendingper the debtor | Plan of Compromise and Arrangement · 4 Sep 2026 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
3 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans14 engagements · 3 firms — latest: AlixPartners Restructuring, Inc., 1 May – 31 Jul 2026Fifth Report of the Monitor · 4 Sep 2026
| Firm | Period | Hours | Fees | Rates | Source | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AlixPartners Restructuring, Inc.Monitorperiod 2 of 2 | 1 May – 31 Jul 2026 | — | — | Fifth Report of the Monitor · 4 Sep 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| AlixPartners Restructuring, Inc.Monitorperiod 1 of 2 | the Period | — | — | Motion Record of the Monitor · 4 Sep 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| Goodmans LLPCounsel to the monitorperiod 3 of 3 | 1 Nov 2025 – 30 Apr 2026 | 8 people | Fourth Report of the Monitor · 8 May 2026 | |||||||||||||||||||||||||||||||||||||||||||||||
8 people — Goodmans LLP, 1 Nov 2025 – 30 Apr 2026 · 16 blurred figures
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| Goodmans LLPCounsel to the monitorperiod 2 of 3 | — | — | 5 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
5 people — Goodmans LLP · 15 blurred figures
| ||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodmans LLPCounsel to the monitorperiod 2 of 3 | — | — | 3 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
3 people — Goodmans LLP · 9 blurred figures
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| KSV Restructuring Inc.Monitorperiod 9 of 9 | 1 Nov 2025 – 30 Apr 2026Approved | — | — | Motion Record of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| KSV Restructuring Inc.Monitorperiod 9 of 9 | 1 Apr – 30 Apr 2026 | — | 4 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
4 people — KSV Restructuring Inc., 1 Apr – 30 Apr 2026 · 14 blurred figures
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| KSV Restructuring Inc.Monitorperiod 9 of 9 | 1 Dec 2025 – 30 Apr 2026 | — | — | 2 people | Fourth Report of the Monitor · 8 May 2026 | |||||||||||||||||||||||||||||||||||||||||||||
2 people — KSV Restructuring Inc., 1 Dec 2025 – 30 Apr 2026 · 6 blurred figures
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| KSV Restructuring Inc.Monitorperiod 6 of 9 | 1 Mar – 31 Mar 2026 | — | 4 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
4 people — KSV Restructuring Inc., 1 Mar – 31 Mar 2026 · 14 blurred figures
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| KSV Restructuring Inc.Monitorperiod 5 of 9 | 1 Feb – 28 Feb 2026 | — | 4 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
4 people — KSV Restructuring Inc., 1 Feb – 28 Feb 2026 · 14 blurred figures
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| KSV Restructuring Inc.Monitorperiod 4 of 9 | 1 Jan – 31 Jan 2026 | — | 4 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
4 people — KSV Restructuring Inc., 1 Jan – 31 Jan 2026 · 14 blurred figures
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| KSV Restructuring Inc.Monitorperiod 3 of 9 | 1 Dec – 31 Dec 2025 | — | 4 people | Fourth Report of the Monitor · 8 May 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
4 people — KSV Restructuring Inc., 1 Dec – 31 Dec 2025 · 14 blurred figures
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| KSV Restructuring Inc.Monitorperiod 1 of 9 | 1 Aug – 31 Oct 2025 | — | — | Third Report of the Monitor · 12 Nov 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| KSV Restructuring Inc.Monitorperiod 1 of 9 | the Period | — | — | 2 people | Claires - Fourth Report of the Monitor · 8 May 2026 | |||||||||||||||||||||||||||||||||||||||||||||
2 people — KSV Restructuring Inc., the Period · 6 blurred figures
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145 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$2.19M
As at 8 May 2026Claires - Fourth Report of the Monitor dated May 8, 2026
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Letter to Creditors | PDF · Subscribers | |
Notice of Creditors' Meeting
| PDF · Subscribers | |
Endorsement of Justice Cavanagh dated September 14, 2026
| PDF · Subscribers | |
Meeting Order - 6045073 Cananda Inc. - Cavanagh .J - 14-Sep-2026
| PDF · Subscribers | |
Stay Extension and Ancillary Relief order dated September 14, 2026
| PDF · Subscribers | |
The Proxy (including Instructions for Completion of Proxy)
| PDF · Subscribers | |
Service List as at September 11, 2026
| PDF · Subscribers | |
Factum of the Monitor dated September 10, 2026
| PDF · Subscribers | |
Fifth Report of the Monitor dated September 4, 2026
| PDF · Subscribers | |
Motion Record of the Monitor dated September 4, 2026
| PDF · Subscribers | |
Plan of Compromise and Arrangement dated September 4, 2026
| PDF · Subscribers | |
Service List as at September 4, 2026
| PDF · Subscribers | |
| The Resolution | PDF · Subscribers | |
Endorsement of Justice Steele dated May 13, 2026
| PDF · Subscribers | |
Stay Extension and Ancillary Relief Order dated May 13, 2026
| PDF · Subscribers | |
Factum of the Monitor dated May 11, 2026
| PDF · Subscribers | |
Claires - Fourth Report of the Monitor dated May 8, 2026
| PDF · Subscribers | |
Motion Record of the Monitor dated May 8, 2026
| PDF · Subscribers | |
Service List as at February 3, 2026
| PDF · Subscribers | |
Notice to Claimants
| PDF · Subscribers | |
Claims Procedure Order dated November 14, 2025
| PDF · Subscribers | |
Endorsement of Justice Dietrich dated November 14, 2025
| PDF · Subscribers | |
Expansion of Monitor's Powers Order dated November 14, 2025
| PDF · Subscribers | |
| Notice of Dispute of Negative Notice Claim | PDF · Subscribers | |
| Notice of Dispute of Revision or Disallowance | PDF · Subscribers | |
Stay Extension and Ancillary Relief Order dated November 14, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated November 12, 2025 | PDF · Subscribers | |
Third Report of the Monitor dated November 12, 2025
| PDF · Subscribers | |
| Motion Record of the Applicant dated November 7, 2025 | PDF · Subscribers | |
Monitor's Certificate re Lease Assignment dated September 30, 2025
| PDF · Subscribers | |
Monitor's Certificate (Closing and Lease Assignment) dated September 18, 2025
| PDF · Subscribers | |
Approval and Vesting Order dated September 16, 2025
| PDF · Subscribers | |
Endorsement of Justice Dietrich dated September 16, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated September 15, 2025 | PDF · Subscribers | |
Second Report of the Monitor dated September 15, 2025
| PDF · Subscribers | |
| Motion Record of the Applicant dated September 10, 2025 | PDF · Subscribers | |
Amended and Restated Initial Order dated August 15, 2025
| PDF · Subscribers | |
Endorsement of Justice Dietrich dated August 15, 2025
| PDF · Subscribers | |
Liquidation Sale Approval Order dated August 15, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated August 14, 2025 | PDF · Subscribers | |
First Report of the Monitor dated August 14, 2025
| PDF · Subscribers | |
| Motion Record of the Applicant, Claire's Stores Canada Corp. dated August 13, 2025 | PDF · Subscribers | |
Revised CCAA Notice to Creditors dated August 8, 2025
| PDF · Subscribers | |
Application Record dated August 6, 2025
| PDF · Subscribers | |
| D&O Proof of Claim Form | PDF · Subscribers | |
Endorsement of Justice Dietrich dated August 6, 2025
| PDF · Subscribers | |
| Factum of the Applicant dated August 6, 2025 | PDF · Subscribers | |
Initial Order dated August 6, 2025
| PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor dated August 6, 2025
| PDF · Subscribers | |
| Proof of Claim Form | PDF · Subscribers | |
| Claimant's Guide to Completing the D&O Proof of Claim Form | PDF · Subscribers | |
| Proof of Claim Instruction Letter | PDF · Subscribers | |
| List of Creditors as at August 4, 2025 | 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., “Claire’s Stores Canada Corp.” (CCAA), Ontario Superior Court of Justice · Commercial List. Retrieved 5 November 2026, https://proceedings.ca/case/claire-s-stores-canada-corp