Quebec · CCAA
Third report of the Monitor on the state of the Debtor’s financial affairs – dated November 3, 2011
Court officer report · 3 November 2011
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 filing4 verified
- operational summaryThe debtor is operating under CCAA protection while closing and liquidating inventory at 32 underperforming stores (via Tiger Capital), running a lease sale process for those locations, liquidating excess inventory in continuing stores, cutting costs, and seeking replacement financing ahead of a plan of arrangement.
- professional feesnote: Actual professional fees disbursed in the 5-week period per Appendix A, vs. projected $798K (in 000's table). The report does not break out the Monitor's own fees. · party: Continuing Stores professional fees (all professionals; Monitor's own fees not separately stated) · amount: 697000 · period: September 26 to October 30, 2011 (5 weeks) · currency: CAD
- report date3 November 2011
- report noThird Report of the Monitor