SSENSE is filing for bankruptcy protection, according to a letter written by CEO Rami Attallah to employees on Thursday, per Business of Fashion.
In the email, the Montreal-based company’s chief executive stated that SSENSE’s lenders aim to sell the company under the Companies’ Creditors Arrangement Act (a Canadian federal statute that allows large companies to restructure their finances to avoid bankruptcy). However, SSENSE intends to bar the sale by filing a CCAA application “to protect the company,…