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Canadian retailer and indie fashion favourite Ssense has filed for bankruptcy protection, the company said on Thursday.
The company is filing an application with Canada’s Companies’ Creditors Arrangement Act, similar to filing for Chapter 11 bankruptcy in the US. The CCAA is a federal law that allows insolvent corporations owing creditors more than $5 million to restructure debts under a legal framework while continuing operations. The filing comes after Ssense’s primary lender placed the company under CCAA protection, triggering a sales…