The founders of Canadian luxury retailer Ssense have secured court approval for their buyout offer, blocking a deal by lenders pursuing a liquidation of the company.
The Quebec Superior Court notified the company’s advisor, Ernst & Young, that the bid submitted by the founders – brothers Rami, Bassel and Firas Atallah – alongside their strategic partner had been accepted. As a result, the deal closed February 13.
In a statement to multiple media outlets, including Bloomberg, the company said: “After months of uncertainty, the closing of the transaction marks an important milestone and affirms our ability to continue building Ssense for the long-term.”
The Montreal-based Ssense filed for bankruptcy protection mid-2025 and…