British Columbia · CCAA
Fifth Report of the Monitor dated November 26, 2025
Court officer report · 26 November 2025
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 filing7 verified
- report date26 November 2025
- report noFifth Report
- operational summarySince the commencement of the CCAA proceedings, the Company has continued to evaluate its business operations and retail footprint in an effort to right-size its operations, turn around its business, and optimize its long-term business strategy, including exiting retail locations, negotiating lease amendments, reducing headcount, administering the Claims Procedure, and securing debt and equity financing.
- operational summaryThe Company continues to operate as a going concern under CCAA protection, having exited some retail locations and reduced headcount to about 409 employees, and is pursuing a plan of compromise supported by equity and exit debt financing.
- recovery outcomeentries: basis: plan · quote: If approved, the Plan will provide for a payment to each Affected Creditor in an amount equivalent to four percent (4%) of their Accepted Claim. · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: As reflected in the table above, the estimated recoveries to unsecured creditors in a liquidation scenario would likely range from virtually nil (less than 1%) to 2%. · pct of: unstated · outcome: distribution · pct low: 2 · pct high: 2 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: | Estimated Distribution to Unsecured Creditors (before additional claims expected in a liquidation) | | 3¢ | 7¢ | · pct of: unstated · outcome: distribution · pct low: 3 · pct high: 3 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · claims amount: 38366000 · interim final: unstated · cents on dollar: 3 · claims qualifier: asserted; basis: liquidation_alternative · quote: | Estimated Distribution per Unsecured Creditors (including estimated additional claims in a liquidation) | | <1¢ | 2¢ | · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · claims amount: 127219000 · interim final: unstated · claims qualifier: estimated · stated on: 2025-11-26 · table missing:
- report date26 November 2025
- report noFifth Report