The Ssense founders have finalized the deal to buy the business out of bankruptcy and restructure its operations, winning out over a group of lenders who had been lobbying for a liquidation.
In mid-January, a Canadian court notified Ernst & Young, the business’s monitor, that the bid submitted by the founders, brothers Rami Atallah, Bassel Atallah and Firas Atallah, together with their strategic partner, a leading Canadian multifamily office, had been accepted. The deal closed on Feb. 13.
The Montreal-based retailer was founded in 2003 by the Atallah brothers and is primarily an e-commerce business targeting men and women between the ages of 18 and 40. It also operates one store in Montreal. Last fall, it was deemed…