Quebec · CCAA
Fourth Report of the Monitor
Court officer report · 14 January 2026
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What we verified from this filing11 verified
- report date14 January 2026
- report noFourth Report
- operational summaryThe Debtors continued to manage their operations in the normal course of business, communicating with creditors and suppliers, negotiating with suppliers to maintain goods and services, assisting with the SISP, and disclaiming two additional agreements, all in consultation with the Monitor.
- disbursementsnote: Net cash outflow for the 4-week period, compared to projected outflow of $7.6M; not a cumulative-since-filing figure but a stated period figure. · since: December 6th, 2025 to January 2nd, 2026 · amount: 4100000 · currency: CAD
- operational summaryThe Debtors continued to operate in the normal course during the SISP and Relaunched SISP, ultimately selecting a going-concern purchaser (the Purchaser Group) whose bid preserves approximately 760 jobs, while a competing liquidation proposal from the Lending Syndicate and a challenge from Cettire remain contested before the Court.
- process resultsbids: 2 · ndas: 51 · note: 170 parties solicited with teaser, 51 executed NDA and became Phase 1 Qualified Bidders; two Binding Offers received on December 23, 2025 of which only one (Purchaser Group) qualified as a Phase 2 Qualified Bid · as of: 2025-12-23 · solicited: 170 · qualified bids: 1
- purchaserPurchaser Group; Cettire Limited
- report date14 January 2026
- report noFourth Report
- sale advisorErnst & Young Orenda Corporate Finance Inc.; Greenhill; Tiger Valuation Services, LLC
- sale outcometext: The Successful Bid constituted and still constitutes the only and best Phase 2 Qualified Bid received in the context of the SISP (and the Relaunched SISP) · scope: whole_business · status: pending_approval