Payless Canada
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- Industry
- Retail · Apparel, footwear & jewellery retail
Payless Canada's insolvency proceedings in Ontario commenced on January 16, 2020, with the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended, recorded as the statutory basis; the file is now closed. Each of the Payless Canada Entities stood as guarantor under two syndicated facilities as at the Initial Order filing date: the Term Loan Credit Facility, with aggregate debt of $366,957,360 translated to Canadian dollars, agented by Cortland Products Corp. as administrative and collateral agent, and the ABL Credit Facility, with aggregate debt of $207,439,460 translated to Canadian dollars, agented by Wells Fargo Bank, National Association. The List of Known Creditors as of the Initial Order date shows unsecured claims against Payless ShoeSource Canada dominated by intercompany balances, including $39,174,207.10 owing to Payless ShoeSource Distribution, Inc. and $3,977,807.67 to Payless ShoeSource Worldwide, alongside personal-injury and litigation claims, provincial workers' compensation boards, and tax authorities including the Canada Revenue Agency.
A claims procedure has been established — see the order for deadlines.
Per the Claims Procedure Order dated 24 April 2019.
First Report of FTI Consulting Canada Inc., in its capacity as Receiver — Court officer report
Motion Record of the Receiver, re: proposed Discharge and Distribution Order and pending termination of the Receivership — Application / notice of application
Motion Record Payless Canada Entities returnable June 4, 2019 — Application / notice of application
Debtor
Payless Canada
Monitor
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morawetz | Ontario Superior Court of Justice | 6 orders, Feb 2019 – Jun 2019 | 141 cases on record |
| Justice McEwen | Ontario Superior Court of Justice | 2 orders, Sep 2020 | 143 cases on record |
Counsel of record
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Cortland Products Corp., as administrative and collateral agentas of Initial Order filing date — Term Loan Credit Facility — Each of the Payless Canada Entities are guarantors under the Term Loan Credit Facility; amount shown is the aggregate debt under the Term Loan Credit Facility translated to CAD, per footnote — debtor: Payless Canada Entities (as guarantors) | $367M | Payless Canada - Known Creditor's List |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
24 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. Term Loan Lenders a distribution.Under the plan · implementedMotion record of the Payless Canada Entities · 23 Oct 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the planimplementedper the monitor | Motion Record of the Receiver, re: proposed Discharge and Distribution… · 3 Mar 2021 |
| Secured | Term Loan Lenders (Payless Canada Entities) | shortfall | Estimatedper the monitor | Sixth Report of the Monitor · 16 Oct 2019 | |
| Securedterm lenders under the Term Loan Credit Facility | Term Loan Credit Facility lenders | — | shortfall | Estimatedper the monitor | Second Report of the Monitor · 16 Mar 2019 |
| Secured | Term Loan Lenders | — | Under the planimplementedper the monitor | Seventh Report of the Monitor · 23 Oct 2019 | |
| Landlord | — | — | a distributionconditional | Under the planimplementedper the debtor | Motion record of the Payless Canada Entities · 23 Oct 2019 |
| Preferred | — | — | paid in full | Under the planimplementedper the monitor | Motion Record of the Receiver, re: proposed Discharge and Distribution… · 3 Mar 2021 |
| Unsecured | — | — | of proven claims | Under the planimplementedper the debtor | Motion record of the Payless Canada Entities · 23 Oct 2019 |
| UnsecuredGeneral Unsecured Creditors of Payless ShoeSource Worldwide, Inc. and Collective Brands Logistics Limited (Class 5A) | Class 5A General Unsecured Creditors | — | per the monitor | Supplement to the Fifth Report · 17 Sep 2019 | |
| UnsecuredGeneral Unsecured Creditors of all other U.S. Debtors (Class 5B) | Class 5B General Unsecured Creditors | — | Under the planimplementedper the monitor | Supplement to the Fifth Report · 17 Sep 2019 | |
| UnsecuredClass 5B General Unsecured Creditors | General Unsecured Creditors of all other U.S. Debtors | — | per the monitor | Seventh Report of the Monitor · 23 Oct 2019 | |
| UnsecuredClass 5A General Unsecured Creditors | Payless ShoeSource Worldwide, Inc. and Collective Brands Logistics Limited | — | per the monitor | Seventh Report of the Monitor · 23 Oct 2019 | |
| Equity | Equity interests in Payless Holdings LLC | — | no distribution | Under the planimplementedper the monitor | Seventh Report of the Monitor · 23 Oct 2019 |
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.
7 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 plans| Date | Document | File |
|---|---|---|
| Discharge Certificate of the Receiver | PDF · Subscribers | |
Receivership Discharge and Distribution Order
| PDF · Subscribers | |
First Report of FTI Consulting Canada Inc., in its capacity as Receiver
| PDF · Subscribers | |
Motion Record of the Receiver, re: proposed Discharge and Distribution Order and pending termination of the Receivership
| PDF · Subscribers | |
CCAA Termination Certificate (stamped - Ontario Superior Court of Justice)
| PDF · Subscribers | |
| CCAA Termination Certificate | PDF · Subscribers | |
Order (CCAA Termination)
| PDF · Subscribers | |
Amended Order (CCAA Termination)
| PDF · Subscribers | |
| Blackline amended Order (CCAA Termination) versus original Order (CCAA Termination) | PDF · Subscribers | |
Factum of the Payless Canada Entities
| PDF · Subscribers | |
| Email Service List | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Motion Record (returnable September 15, 2020) | PDF · Subscribers | |
Ninth Report of the Monitor
| PDF · Subscribers | |
| Receivership Certificate | PDF · Subscribers | |
| Fifth Stay Extension Order | PDF · Subscribers | |
Eighth Report of the Monitor
| PDF · Subscribers | |
| Payless Canada Entities' Motion Record | PDF · Subscribers | |
| Monitor's Certificate - Plan Implementation | PDF · Subscribers | |
| Endorsement | PDF · Subscribers | |
| Endorsement - McEwen J. | PDF · Subscribers | |
| Plan Sanction Order - McEwen J. | PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
| Book of Authorities, part 1 of 2 | PDF · Subscribers | |
| Book of Authorities, part 2 of 2 | PDF · Subscribers | |
Factum
| PDF · Subscribers | |
Motion record of the Monitor
| PDF · Subscribers | |
Motion record of the Payless Canada Entities
| PDF · Subscribers | |
Seventh Report of the Monitor
| PDF · Subscribers | |
| Affidavit of Taschina Ashmeade - Sworn October 16, 2019 | PDF · Subscribers | |
Sixth Report of the Monitor
| PDF · Subscribers | |
| Meetings Order | PDF · Subscribers | |
| Affidavit of Stephen Marotta - Sworn September 17, 2019 | PDF · Subscribers | |
| Blackline Meetings Order against Version Served September 10, 2019 | PDF · Subscribers | |
| Book of Authorities of the Applicants | PDF · Subscribers | |
| Endorsement, McEwen J. | PDF · Subscribers | |
Factum of the Applicants
| PDF · Subscribers | |
| Meetings Order (Revised) - Motion Returnable Sep 19 | PDF · Subscribers | |
| Motion Record of the Applicants | PDF · Subscribers | |
Supplement to the Fifth Report
| PDF · Subscribers | |
| Third Stay Extension Order | PDF · Subscribers | |
| Fifth Report of the Monitor | PDF · Subscribers | |
Second Stay Extension Order
| PDF · Subscribers | |
| Fourth Report of the Monitor | PDF · Subscribers | |
| Court Call Service Copy re June 4, 2019 Motion | PDF · Subscribers | |
| Motion Record Payless Canada Entities returnable June 4, 2019 | PDF · Subscribers | |
| Amended Cash Flow Statement Order | PDF · Subscribers | |
| Claims Procedure Order | PDF · Subscribers | |
| Third Report of the Monitor | PDF · Subscribers | |
| Court Call Service Copy | PDF · Subscribers | |
| Motion Record - Payless Canada Entities | PDF · Subscribers | |
| Endorsement of Order re Stay Extension | PDF · Subscribers | |
Order re Stay Extension up to and including June 7, 2019
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
| Court Call Registration Information | PDF · Subscribers | |
| Motion for First Stay Extension | PDF · Subscribers | |
| Payless Canada Customer FAQ | PDF · Subscribers | |
| Payless Canada Supplier FAQ | PDF · Subscribers | |
| Payless Canada Employee's Q&A | PDF · Subscribers | |
Second Endorsement
| PDF · Subscribers | |
Liquidation Approval Order
| PDF · Subscribers | |
| Notice to Creditors - Payless Canada Entities (English) | PDF · Subscribers | |
| Notice to Creditors - Payless Canada Entities (French) | PDF · Subscribers | |
Payless Canada - Known Creditor's List
| PDF · Subscribers | |
| First Report of the Monitor | PDF · Subscribers | |
| 1) Motion for the Issuance of an Intial Order | PDF · Subscribers | |
| 2) Factum of the Applicants | PDF · Subscribers | |
| 3) Book of Authorities | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
| Monitor's Pre-Filing Report | PDF · Subscribers | |
Motion - Liquidation Approval and Sale Guidelines
| PDF · Subscribers | |
Reasons for Decision
| 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., “Payless Canada” (CCAA), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/payless-canada