Fashion Retailer Ssense to Seek Creditor Protection: Reports

Ssense, a Montreal-based retailer that sells designer fashion, plans to file for creditor protection after lenders tried to force a sale of the company, according to reports by online publications The Business of Fashion and The Logic.

• Employees were told in a message from CEO Rami Atallah that was reviewed by the publications
• Ssense’s primary lender filed an application for protection “without our consent,” The Logic reported
• “These events caused an immediate liquidity crisis that no short-term solution could address,” the message said, according to The Logic
• Businesses are facing the end of the US de minimis exemption ...