Ontario · CCAA
Fifth Report of the Monitor dated September 4, 2026
Court officer report · 4 September 2026
What we verified from this filing10 verified
- cash on handnote: Positive variance of approximately $280,000 vs. forecast, largely due to timing differences in professional fees · as at: 2026-08-28 · amount: 4370000 · currency: CAD · qualifier: approximately
- closing confirmedscope: the Sale Transaction (as relates to the Applicant) · outcome: completed · effective: 2025-09-18 · purchaser: Claire's Essentials Canada Corp. · date basis: stated · approval order date: 2025-09-16; scope: 73 of the 77 Eligible Canadian Leases · outcome: completed · effective: 2025-09-30 · purchaser: Claire's Essentials Canada Corp. · date basis: stated · approval order date: 2025-09-16
- fee scheduleengagements: form: report_table · rows: · money: approximate: false · period: end: 2026-07-31 · kind: invoice · label: the Period · quote: Schedule of Professionals' Time and Rates For the Period from May 1, 2026 to July 31, 2026 · start: 2026-05-01 · approval: state: unstated · averages: rate: 679.03 · quote: the Monitor's average hourly rate for the Period was $679.03 · scope: the Monitor's average hourly rate for the Period · currency: · invoices: · firm text: AlixPartners Restructuring, Inc. · firm quote: AlixPartners Restructuring, Inc. 1 (formerly KSV Restructuring Inc.) ( ' AlixPartners ' ) was appointed monitor of the Applicant · context quote: AlixPartners Restructuring, Inc. 1 (formerly KSV Restructuring Inc.) ( ' AlixPartners ' ) was appointed monitor of the Applicant (in such capacity, the ' Monitor ' ); form: report_table · rows: · money: approximate: false · period: kind: unstated · label: the Relevant Period · approval: state: unstated · averages: rate: 888.44 · quote: at an average hourly rate of $888.44 · currency: · invoices: · firm text: Goodmans · firm quote: Goodmans expended a total of 79 hours in connection with this matter during the Relevant Period, at an average hourly rate of $888.44 · hours total: quote: Goodmans expended a total of 79 hours in connection with this matter during the Relevant Period · value: 79 · context quote: As shown in the summary, Goodmans expended a total of 79 hours in connection with this matter during the Relevant Period, at an average hourly rate of $888.44.
- operational summaryThe Applicant has completed the sale of substantially all its assets and no longer carries on any business, with its remaining activities limited to wind-down matters such as the claims process and distribution planning.
- purchaserAWS Claire's LLC
- recovery outcomeentries: basis: estimated · quote: Affected Creditors with Proven Claims (other than Claire ' s Liquidating Trust) are estimated to receive distributions in the aggregate amount of approximately $1.36 million to $1.45 million, representing approximately 58% to 62% of their Proven Claims, within the timeline prescribed by the Plan. · pct of: proven_claims · outcome: distribution · pct low: 58 · pct high: 62 · class key: unsecured · stated by: monitor · amount low: 1360000 · amount high: 1450000 · class label: Affected Creditors (other than Claire's Liquidating Trust) · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: Claire ' s Liquidating Trust is estimated to recover approximately 7% to 9% in respect of the Claire ' s US Allowed Claim; · pct of: unstated · outcome: distribution · pct low: 7 · pct high: 9 · class key: unsecured · stated by: monitor · class label: Claire's Liquidating Trust · creditor name: Claire's Liquidating Trust · interim final: unstated · claims qualifier: unstated · stated on: 2026-09-04 · table missing: A comparison of estimated distributions pursuant to the Plan versus estimated straight pro rata distributions in a bankruptcy is set out below:
- report date4 September 2026
- report noFifth Report
- sale advisorHilco Merchant Retail Solutions, ULC, Gordon Brothers Canada ULC, and SB360 Capital Partners, LLC
- sale outcometext: Sale Transaction closed with the Canadian Purchaser acquiring the Canadian Acquired Assets and assuming 73 of 77 eligible leases · scope: whole_business · status: closed