Warehouse One Clothing Ltd.
- Proceeding
- CCAACompanies' Creditors Arrangement Act R.S.C. 1985, c. C-36, as amended
- File
- CI 26-01-57065
- Industry
- Retail · Apparel, footwear & jewellery retail
Warehouse One Clothing Ltd. has been under Companies' Creditors Arrangement Act protection in the Court of King's Bench of Manitoba since May 6, 2026, on its own application, with Alvarez & Marsal Canada Inc. as monitor and the matter carried in court file CI 26-01-57065. The preliminary list of creditors as at that date shows secured claims of $22,236,480.85 owed to Highgate Capital Ltd., $8,250,000.00 to Who Industries Inc., $6,947,897.15 to R.I.S. Media Ltd. and $2,750,000.00 to 4565038 Manitoba Ltd. The largest unsecured claims are $673,289.22 owed to Bestseller Wholesale Canada, $600,184.05 to Silver Jeans, $500,432.38 to King Lai International Group Ltd and $468,690.58 to Zhiyuan Garment Co., Ltd. Purolator Inc. is listed at $345,088.74 and the Receiver General of Canada at $335,326.10.
Motion Brief of the Applicant (Approval and Vesting Order, Distribution and Ancillary Order) — Application / notice of application
The court granted an approval and vesting order for the sale to YM Inc. (Sales). Closing terms, as extracted: Vesting takes effect upon the Monitor delivering its certificate to the Purchaser confirming payment of the Purchase Price, satisfaction or waiver of the Closing conditions, and completion of the Transaction to the Monitor's satisfaction. Sealed: Oral record of the July 27, 2026 motion regarding the purchase price and deposit, Confidential Appendix 'C' to the Second Report.
Source: Approval and Vesting Order
The officer filed report no. Second Report of the Monitor. The Applicant is completing its liquidation sale across all retail store locations (final business day July 26, 2026), disclaiming all store leases, winding down its workforce, and pursuing an IP transaction and sale of the Kenora property as it moves toward an orderly wind-down and completion of the CCAA proceedings.
Source: Second Report of the Monitor
Notice of Motion (Comeback Hearing – Amended and Restated Initial Order) — Amended and restated initial order
The officer filed report no. First Report. The Applicant is winding down its operations, conducting liquidation sales at all 128 retail stores with a consultant (Gordon Brothers). It has cut 52 head-office staff, disclaimed three store leases, and has about 930 employees remaining. No DIP borrowings have been made to date.
Source: First Report of the Monitor
Undated filings2 — no date appears on the document · show
Motion Brief of the Applicant (Approval and Vesting Order, Distribution, WEPPA Declaration, and Stay Extension Order) — Application filed
Motion Brief of the Applicant (Comeback Hearing - Amended and Restated Initial Order) — Application filed
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.
Outcome brief
Warehouse One: every secured lender was an affiliate
The Winnipeg denim chain founded in 1977 liquidated its stores for about $20.5 million in net merchandise proceeds and sold its brands to YM Inc. (Sales) for $744,000, and on September 9, 2026 the court authorized distributions to affiliated second-lien lenders owed $20,456,733 in principal at April 28, for whom the monitor estimates about $5.0 million is available.
Debtor
Warehouse One Clothing Ltd.
Monitor
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Grammond | Court of King's Bench of Manitoba | 6 orders, May 2026 – Sep 2026 | 4 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorAlvarez & Marsal | Goodmans LLP | 1 May 2026 | Service list · 22 Jul 2026 |
| ApplicantWarehouse One Clothing Ltd. | Pitblado LLP | 1 May 2026 | Service list · 22 Jul 2026 |
| CreditorChina Export & Credit Insurance Corporation and Guangzhou Zichi Garment Co., Ltd | Gowling WLG (Canada) LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| CreditorCrombie Developments Ltd | Gardiner Roberts LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| CreditorKingsway Garden Holdings Inc | Daoust Vukovich LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| CreditorTown Centre Properties 2018 Inc | Swainson Miki Peskett LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| CreditorWHO Industries Ltd., Highgate Capital Ltd | MLT Aikins LLP | 22 Jul 2026 | Service list · 22 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Second Lien Affiliate Lenders (Highgate Capital Ltd. and R.I.S. Media Ltd., aggregate)Second Lien Affiliate Loans - security interests rank pari passu and in priority to security interests securing WHO Industries Loan and 456 Manitoba Loan; also secured by mortgage on Kenora Property — Aggregate principal amount owing (exclusive of accrued interest); became senior-ranking secured claims following payment in full of Senior Credit Facility; expected to suffer significant deficiency on Proposed Distributions of approximately $5.0 million; related parties (shareholder/affiliates) — debtor: Warehouse One Clothing Ltd. · as of 28 Apr 2026 | $20.5M | Third Report of the Monitor |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
203 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 plans2 transactions · 1 closed · 1 proposed — The Court approved the Transaction with YM Inc. (Sales) and ordered the Purchased Assets vested in the Purchaser, free and clear, upon delivery of the Monitor's Certificate.Approval and Vesting Order · 27 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| YM Inc. (Sales)the Applicant's right, title and interest in and to the Purchased Assets (as defined in the Sale Agreement) · asset sale · agreement 17 Jul 2026 | Subscribers | Closed30 Jul 2026 | Third Report of the Monitor |
| Lorelie Stebnitsky and Barton Stebnitskythe Applicant's real property located at 323 First Street South, Kenora, Ontario (the ' Kenora Property ') · real property | Sealed | Proposed | Third Report of the Monitor |
Unsecured creditors: no distribution.EstimatedThird Report of the Monitor · 1 Sep 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the monitor | Third Report of the Monitor · 1 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.
2 engagements · 2 firms — latest: Goodmans LLP, 4 Jun – 31 Aug 2026, in feesThird Report of the Monitor · 1 Sep 2026
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Alvarez & Marsal Canada Inc.Monitor | 3 May – 15 Aug 2026 | 3 people | Third Report of the Monitor · 1 Sep 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
3 people — Alvarez & Marsal Canada Inc., 3 May – 15 Aug 2026 · 11 blurred figures
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodmans LLPCounsel to the monitor | 4 Jun – 31 Aug 2026 | 8 people | Third Report of the Monitor · 1 Sep 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
8 people — Goodmans LLP, 4 Jun – 31 Aug 2026 · 26 blurred figures
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||
43 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 plansCash on hand
$2.16M
As at 12 May 2026First Report of the Monitor
| Date | Document | File |
|---|---|---|
Notice of Motion (Approval and Vesting Order, Distribution and Ancillary Order)
| PDF · Subscribers | |
Motion Brief of the Applicant (Approval and Vesting Order, Distribution and Ancillary Order)
| PDF · Subscribers | |
Third Report of the Monitor
| PDF · Subscribers | |
| Notice of Motion of the Applicant (Approval and Vesting Order, Distribution, WEPPA Declaration, and Stay Extension Order) | PDF · Subscribers | |
Service List (as at July 22, 2026)
| PDF · Subscribers | |
Monitor’s Certificate
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
Distribution, WEPPA Declaration and Stay Extension Order
| PDF · Subscribers | |
Notice of Motion (Comeback Hearing – Amended and Restated Initial Order)
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
List of Creditors
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
| Pre-Filing Report of the Proposed Monitor | PDF · Subscribers | |
| Affidavit of Shamsh Kassam | PDF · Subscribers | |
Distribution and Ancillary Order
| PDF · Subscribers | |
Notice of Application (CCAA Initial Order)
| PDF · Subscribers | |
| Motion Brief of the Applicant (Approval and Vesting Order, Distribution, WEPPA Declaration, and Stay Extension Order) | PDF · Subscribers | |
| Motion Brief of the Applicant (Comeback Hearing - Amended and Restated Initial Order) | 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., “Warehouse One Clothing Ltd.” (CCAA), Court of King's Bench of Manitoba. Retrieved 4 November 2026, https://proceedings.ca/case/warehouse-one-clothing-ltd