US EditionMontreal-Based Clothing Brand SSENSE to File for Creditor Protection
Ssense faces a 28% sales decline and creditor disputes amid tariffs and the end of U.S. duty-free exemption, prompting its filing under Canada's Companies' Creditors Arrangement Act.
- On Thursday, Montreal-based e-tailer Ssense filed for bankruptcy protection after lenders pushed for a sale, the company said in an internal message first reported by The Business of Fashion.
- The end of the de minimis exemption helped precipitate Ssense's CCAA filing, as the closure of this duty-free rule for parcels under $800 surprised the company and raised costs amid Trump administration tariffs.
- The retailer has already laid off more than 100 employees and sales slumped 28 percent year over year in H1 2025, despite a $5 billion valuation after Sequoia Capital's 2021 minority stake purchase.
- Ssense says its primary lender filed a creditor-initiated CCAA application without consent, management will file a rival application within 24 hours, and the court will likely decide next week while the company continues operating.
- Over the past year, shifting market conditions have created an immediate liquidity crisis, and logistics disruptions like DHL's pause last week have compounded pressures on retailers such as Ssense.
20 Articles
20 Articles
Online retailer Ssense filing for bankruptcy protection
Montreal-based online fashion retailer Ssense plans to file for bankruptcy protection after its primary lender signaled plans to force a sale of the company in its own request for bankruptcy protection, a Ssense spokesperson told CBC News in an email.
Ssense Files for Bankruptcy Protection as Lender Tries to Force a Sale
Ssense has been placed under bankruptcy protection by its primary lender, evidently without the approval of the Montreal, Canada-based fashion e-tailer. According to a spokesperson for Ssense, the lender is trying to force a sale of the company under the Companies' Creditors Arrangement Act. This comes amid a tough economic year for Ssense, which it credits to the Trump Administration's trade policies, including tariff disturbances and the elimi…
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