Quebec · CCAA
Application for the issuance of an Order for the Orderly Wind-Down
Application / notice of application · 8 October 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 filing2 verified
- secured creditorsnote: No balance stated as at a date. The wind-down model projects repayment of the revolver as $1.0M (Nov), $5.5M (Dec), $5.0M (Jan) and $2.8M (Feb), and states 'the repayment in full of FGI's revolver (approximately $14.3 million, including interest and charges)' - this is a projected repayment figure, not a stated outstanding balance. Document says exact quantum of FGI's claim is still to be determined by the Monitor. A $1.25M over-advance was demanded by FGI on May 27, 2026. Mr. Granatstein (CEO) gave a limited 'Validity Guarantee' in favour of FGI as agent (personal guarantee by an officer; conduct-based losses only; the Debtors dispute any amount is owing under it). · page: 9 · debtor: La Cie Canada Tire Inc. / Canada Tire Company Inc. · creditor: FGI Worldwide LLC (FGI) - pre-filing revolving credit facility · currency: CAD · security: Pre-filing credit facilities (revolver). Credit agreement dated on or about December 18, 2025 (Validity Guarantee dated December 18, 2025 was a condition of the FGI credit agreement); collateral not itemised on these pages.
- secured creditorsnote: Post-filing interim financing, not pre-filing debt; included because it ranks ahead of the pre-filing stack. 'Approximately $1.39 million' drawn. Charges ranking in the CCAA proceedings also include D&O Charge $1.5M and KERP Charge $350,000. Rockport Capital Inc. has offered replacement interim financing ($2.5M at 12%) if FGI does not cooperate. · page: 15 · as of: date of the Application (October 8, 2026) · amount: 1390000 · debtor: La Cie Canada Tire Inc. / Canada Tire Company Inc. · creditor: FGI Worldwide LLC (FGI) - DIP Facility (interim lender) · currency: CAD · security: Super-priority, non-revolving term loan, maximum principal $2.5 million, DIP Loan Agreement dated July 19, 2026, maturing October 30, 2026; approx. $1.11M remains available.