What to know
- The founders of Montreal luxury fashion online retailer SSENSE have won a bid to keep ownership of the business amid bankruptcy protection.
- SSENSE filed for creditor protection last August after becoming over $370 million in debt, partly due to President Trump’s suspension of the $800 de minimis exemption.
The founders of Montreal-based luxury online fashion retailer SSENSE have won a bid to keep ownership of the brand amid their ongoing bankruptcy protection journey.
The bid, filed by SSENSE’s co-founders Rami Atallah, Bassel Atallah and Firas Atallah — alongside a Canadian multi-family office — comes a few months after they filed for bankruptcy protection from their primary lender, who attempted to force the company to sell, according to Business of Fashion.
On Sunday, SSENSE was selected as the successful bid in the court-supervised Sale and Investment Solicitation Process (SISP) under the Companies’ Creditors Arrangement Act (CCAA). This means the Atallah brothers will be able to restructure their debts while continuing to operate their e-commerce business.
The company’s financial troubles came as a result of President Trump’ s tariffs and his suspension of the $800 de minimis exemption — which allowed for goods valued at under $800 to enter the United States duty free. In May, SSENSE laid off 100 employees and was over $370 million in debt.
SSENSE’s bid is expected to close Feb. 13, 2026
