Ontario · CCAA
Third Report of the Monitor dated November 12, 2025
Court officer report · 12 November 2025
What we verified from this filing20 verified
- report date12 November 2025
- report noThird Report
- commencement date6 August 2025
- courtOntario Superior Court of Justice (Commercial List)
- court file noCV-25-00748871-00CL
- proceeding typeCCAA proceeding (Companies' Creditors Arrangement Act)
- provinceOntario
- statutory basisCompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- secured creditorsAdministration Charge up to $750,000 and Directors' Charge up to $3.3 million, ranking behind the Administration Charge.
- cash on handnote: approximately · amount: 4700000 · currency: CAD
- financial positionThe Applicant has approximately $4.7 million on hand, including proceeds from the Sale Transaction, held by the Monitor.
- receipts cumulativeamount: 8677000 · currency: CAD
- operational summaryThe Applicant no longer has any employees and its remaining directors and officers resigned or were removed on November 7, 2025.
- professional feesparty: Monitor (KSV Restructuring Inc.) · amount: 237014 · currency: CAD · excludes: HST
- closing confirmedscope: the Canadian Acquired Assets · 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; scope: four Eligible Canadian Leases (the Rejected Stores) · outcome: not_completed · effective: 2025-09-30 · date basis: stated · approval order date: 2025-09-16
- fee scheduleengagements: form: report_table · rows: · money: · period: end: 2025-10-31 · kind: interim · label: the Period · quote: For the Period from August 1, 2025 to October 31, 2025 · start: 2025-08-01 · approval: state: unstated · averages: rate: 677.22 · quote: the Monitor's average hourly rate for the Period was $677.22 · scope: Monitor · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. was appointed monitor of the Applicant · context quote: the Monitor's average hourly rate for the Period was $677.22; form: prose · rows: · money: · period: kind: unstated · label: Relevant Period · quote: during the Relevant Period · approval: state: unstated · averages: rate: 969.49 · quote: at an average hourly rate of $969.49 · scope: Goodmans · currency: · invoices: · firm text: Goodmans · firm quote: Goodmans expended a total of 273.8 hours in connection with this matter during the Relevant Period · hours total: quote: Goodmans expended a total of 273.8 hours in connection with this matter during the Relevant Period · value: 273.8 · context quote: Goodmans expended a total of 273.8 hours in connection with this matter during the Relevant Period, at an average hourly rate of $969.49.
- process resultslois: 5 · ndas: 69 · note: figures reproduced from the Second Report · as of: 2025-09-15
- purchaserAWS Claire's LLC
- sale advisorHilco Merchant Retail Solutions, ULC, Gordon Brothers Canada ULC, and SB360 Capital Partners, LLC; Houlihan Lokey
- sale outcometext: Sale Transaction closed · scope: parcel · status: closed