Manitoba · CCAA
First Report of the Monitor
Court officer report · 12 May 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing6 verified
- cash on handnote: Opening cash balance in the Updated Cash Flow Forecast ($000's: 2,156) at the start of the 16-week forecast period beginning May 15, 2026; the Pre-Filing Report forecast showed $450K opening cash. Forecast closing cash is approximately $6.2 million (a projection, not a position). · amount: 2156000 · currency: CAD
- operational summaryThe 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.
- professional feesnote: Forecast (not incurred) professional fees per the Updated Cash Flow Forecast; $000's: 1,527. Tax treatment not stated. · party: Applicant's legal counsel, the Monitor, and the Monitor's legal counsel · amount: 1527000 · period: 16-week forecast period to August 28, 2026 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: given the amount of secured debt outstanding, it is not anticipated that there will be sufficient realizations that will result in a distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- report date12 May 2026
- report noFirst Report