Globo Chaussures: sales 28% under forecast, and a fourth and last extension

In the twelve months to March 31, 2026, its first year running the Globo Chaussures shoe stores, 9533-6293 Québec inc. budgeted $38.0 million in sales and made $25.7 million, 32% short. Against a budgeted net profit of $0.4 million it lost $3.0 million. The figures, taken from the company's unaudited internal statements, come from the first report of its proposal trustee, Restructuration Deloitte inc., per the First Report of the Trustee, May 6, 2026, paras. 14–15. The company had filed a notice of intention to make a proposal under s. 50.4(1) of the Bankruptcy and Insolvency Act on April 13, 2026, and Deloitte agreed the same day to act as trustee (para. 11).

When Deloitte first reported, the company ran twenty family shoe stores under the Globo Chaussures name, eighteen in Québec, one in New Brunswick and one in Ontario, along with a transactional website, and employed about 250 people. It was incorporated under Québec's Business Corporations Act in January 2025 and had operated the stores since March 2025, from a head office in Montréal. None of its three shareholders — Gestion SFND Capital inc., Groupe GMG Capital inc. and Benito Paquette — holds a majority. Its directors are Robert Guy, Mr. Paquette and Steven Poirier, the president, who represents the company in the proceeding, per the First Report of the Trustee, May 6, 2026, paras. 5–10. Until that spring, as La Presse reported on May 15, 2025, Globo had belonged to the Aldo Group.

The file is in the Superior Court of Québec, Commercial Division, district of Montréal, No. 500-11-067094-264. The notice itself recites that under s. 69 of the BIA proceedings against the company are stayed from its filing with the official receiver, whose stamp dates it April 13, per the Notice of Intention to Make a Proposal (Form 33), Apr. 13, 2026, p. 4. Deloitte sent notice of the filing to the known creditors on April 15 and filed the company's first cash-flow statement with the official receiver on April 20, per the First Report of the Trustee, May 6, 2026, paras. 12–13. None of the seven filings in the record gives an account of why the first year fell short of its budget.

Desjardins, Aldo and the shoe companies

At March 31, 2026 the company's assets had a net book value of $9.6 million, of which $8.3 million was inventory, 86% of the total. Liabilities came to $11.6 million. Two creditors hold security over the universality of the company's movable property, present and future: Caisse Desjardins de l'Ouest de Laval, carried at $1.8 million, with a first-ranking conventional movable hypothec, and The Aldo Group Inc., carried at $3.3 million, with a second-ranking one. The Fonds régionaux de solidarité FTQ are owed $2.0 million unsecured, and trade creditors $4.5 million, which the trustee describes as "for the most part, unsecured claims payable to shoe suppliers" [translation], per the First Report of the Trustee, May 6, 2026, paras. 16–19, 23–24. For the moment, the report says, the trustee had neither requested nor obtained an independent legal opinion on the validity and enforceability of the Desjardins and Aldo security. The company did not participate in a registered pension plan and had no arrears of wages or of remittances to the tax authorities (paras. 20–22, 25).

The list of creditors filed with the notice totals $11,284,910.99. The largest claim on it is The Aldo Group Inc.'s, at $2,794,583.00, followed by the FTQ funds at $2,000,000.00 and Desjardins at $1,318,994.25. Then come the suppliers: Skechers USA Canada at $962,479.54, Nike Canada at $552,108.09, M & M Footwear at $354,843.00, Crocs Canada at $202,278.18 and Puma Canada at $175,379.81, with, among others, two Adidas companies, Under Armour, C&J Clark Canada, Birkenstock Canada, Merrell and Cole Haan Canada each listed at more than $100,000. Shopify inc. is listed at $435,715.00. It also names shopping-centre companies from Place Rosemère inc. and Place Versailles Inc. to Champlain Place (Moncton) Limited Partnership and Bramalea City Centre Equities Inc., per the Notice of Intention to Make a Proposal (Form 33), list of creditors, Apr. 13, 2026, pp. 5–10. The company's cash-flow statements carry lines for interest and principal on a Shopify Capital loan and on a loan from The Aldo Group Inc., among others, per the First Report of the Trustee, May 6, 2026, App. A, p. 8.

Forty-five days at a time

On May 7 the company moved for 45 more days to file its proposal, to June 26. The motion, signed by Me Marie-Claude Gaudreau of Therrien Couture Joli-Cœur in Sherbrooke and supported by Mr. Poirier's solemn declaration, says the company had been analysing rationalization and financial restructuring initiatives, and that its representatives and the trustee had for some weeks been in "negotiations with the Debtor's principal financial partners with the aim of obtaining, among other things, contributions of funds to finance its operations as well as the preparation and filing of a viable proposal" [translation], per the Motion to Extend the Time to File a Proposal, May 7, 2026, paras. 4–8. On May 12, reciting the absence of any contest, Registrar Vincent-Michel Aubé granted the 45 days in a handwritten endorsement on the face of the motion, per the Endorsement of Registrar Aubé, May 12, 2026, p. 1.

The distribution list attached to that motion, current to May 6, shows counsel for several creditors. The Aldo Group Inc. was represented by Me Denis Ferland of Davies Ward Phillips & Vineberg; Place Rosemère inc., North American (Boucherville) Corp. and CREIT (Boucherville) Limited Partnership by Me Linda Galessiere of Camelino Galessiere LLP; and Société en commandite DMA Laurier Québec and Immeuble 705 Ste-Catherine inc. by Me Alexandre Forest of Gowling WLG. The list also includes Trend Marketing Wholesale Inc. (at an Allianz Trade address), the Sports Industry Credit Association and Deloitte's Éric Vincent, Mathieu Laforest and Benoît Clouâtre, with Me Michaël Deslauriers beside Me Gaudreau for the company, per the Motion to Extend the Time to File a Proposal, May 7, 2026, distribution list, pp. 7–8. Mr. Vincent and Mr. Clouâtre, both senior vice-presidents, signed the trustee's first report, per the First Report of the Trustee, May 6, 2026, p. 6.