Steve’s Music Store Inc.
Follow- Proceeding
- NOIarticle 50.4(9) de la Loi sur la faillite et l'insolvabilité
- Court
- Superior Court of Québec · Commercial Division
- File
- 500-11-066759-263
Steve's Music Store Inc. (Magasin de Musique Steve Inc.), a family-owned music retailer operating five stores in Montréal, Greenfield Park, Dollard-des-Ormeaux, Toronto and Ottawa, filed a Notice of Intention to Make a Proposal on February 4, 2026 in the Superior Court of Québec (Commercial Division) in Montréal, citing shifting consumer behaviour, online competition and rising costs. Following a February 10, 2026 court order, the Company ran liquidation sales with Continental across its locations, with store closing sales at Greenfield Park, Dollard-des-Ormeaux, Ottawa and Toronto; four stores have since closed. By the Trustee's July 8, 2026 report, a lease termination notice had been issued for the last remaining store and a liquidator engaged to auction remaining inventory, while the Company worked with the Trustee and counsel on a proposal. The Court issued a further order on July 9, 2026. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
23 earlier updates, back to 4 February 2026 — subscribers.
Case update
Steve's Music Store: the related party stood down
Five months after filing a notice of intention, the company has closed every store, auctioned the last of its inventory and disclaimed its final lease. What is left is cash, a receivable from the auctioneer and some life insurance policies — and a proposal offering creditors $750,000, made possible because the family group agreed to give up an estimated $1.4 million of its own claims.
Case update
Steve's Music: five stores down to one, and a proposal still to write
A family music store that has sold instruments since 1965 filed a notice of intention in February with five locations and more than eighty staff. Four stores are closed. What is left is one Montreal shop and a web store — now spending money to restock the shelves the liquidation sale emptied, which is why the forecast is negative and the extension matters.
Debtor
Steve’s Music Store Inc.
Proposal trustee
EY
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | 119154 Canada Inc. ("Related Lender")Hypothec registered at RDPRM — Related party: held by a party related to the Debtor's principal and sole shareholder, for loans provided to the Debtor; consents to relief sought in the Motion; ranks last (SIXTH) per proposed order. No balance amount stated. — debtor: Steve's Music Store Inc. | — | Motion for the Authorization and Approval of a Liquidation Services Agreement and Certain Restructuring Charges and Related Relief |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Liquidation in progress — Following the auction of its inventory and the closure of its final retail location, all of the Debtor's operations ceased; a liquidation sale and auction were conductedReport of Trustee on Proposal · 31 Aug 2026
Unsecured creditors: a distribution. Kirman Group no distribution.Under the plan · sanctionedReport of the Trustee on the Financial Situation of the Debtor and on… · 4 Aug 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the plansanctionedper the debtor | Proposal · 3 Aug 2026 |
| Preferred | — | — | paid in full | Under the plansanctionedper the debtor | Proposal · 3 Aug 2026 |
| Unsecured | — | — | a distribution | Under the plansanctionedper the trustee | Report of the Trustee on the Financial Situation of the Debtor and on… · 4 Aug 2026 |
| Unsecured | Kirman Group | — | no distribution | Under the plansanctionedper the trustee | Report of the Trustee on the Financial Situation of the Debtor and on… · 4 Aug 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.
Cumulative receipts
$470K
As at 8 Jul 2026Fifth Report of the Trustee
| Date | Document | File |
|---|---|---|
Order Approving Proposal
| PDF · Subscribers | |
Report of Trustee on Proposal
| PDF · Subscribers | |
| Form 31 - Proof of Claim | PDF · Subscribers | |
| How to Complete a Proof of Claim Form and a Proxy Form | PDF · Subscribers | |
Notice of Proposal to Creditors
| PDF · Subscribers | |
| Proxy | PDF · Subscribers | |
| Voting Letter | PDF · Subscribers | |
Report of the Trustee on the Financial Situation of the Debtor and on the Proposal
| PDF · Subscribers | |
Proposal
| PDF · Subscribers | |
Stay Extension Order to August 4th, 2026 (in French)
| PDF · Subscribers | |
Fifth Report of the Trustee
| PDF · Subscribers | |
Fourth Report of the Trustee
| PDF · Subscribers | |
| Motion to Extend the Delay to Make a Proposal | PDF · Subscribers | |
| Stay Extension Order extending Stay of proceedings to May 31, 2026 (in French) | PDF · Subscribers | |
Third Report of the Trustee
| PDF · Subscribers | |
| Motion to Extend the Delay to Make a Proposal to June 3, 2026 | PDF · Subscribers | |
| Stay Extension Order extending Stay of proceedings to April 19, 2026 (in French) | PDF · Subscribers | |
Second Report of the Trustee
| PDF · Subscribers | |
Motion to Extend the Delay to Make a Proposal until April 20, 2026
| PDF · Subscribers | |
Order Authorizing and Approving a Liquidation Services Agreement and Certain Restructuring Charges
| PDF · Subscribers | |
First Report of the Trustee
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Motion for the Authorization and Approval of a Liquidation Services Agreement and Certain Restructuring Charges and Related Relief
| PDF · Subscribers | |
| Amended Certificate of Filing of a Notice of Intention to Make a Proposal | PDF · Subscribers | |
| Certificate of Filing a Notice of Intention | 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., “Steve’s Music Store Inc.” (NOI), Superior Court of Québec · Commercial Division. Retrieved 20 September 2026, https://proceedings.ca/case/steve-s-music-store-inc