Ssense co-founders win bid for control over retailer

The co-founders of Canadian luxury platform Ssense have won their bid to retain control over the company. It has been confirmed that the parties have now entered into a definitive purchase agreement.

In a press release, Ssense said it had been "notified by the court-appointed monitor that the bid submitted by its co-founders, Rami, Atallah, and Firas Atallah, together with their strategic partner, a leading Canadian multi-family office, has been selected as the successful bid in the court-supervised sale and investment solicitation process (SISP) conducted under the Companies’ Creditors Arrangement Act (CCAA)”.

The transaction, which remains subject to customary closing conditions, is expected to close by February 13, 2026, if all necessary approvals are obtained. The company will then be positioned to complete the final steps of its CCAA process.

Montreal-based Ssense filed for bankruptcy protection mid-2025 and consequently launched a court-approved restructuring procedure under Canada’s CCAA, enabling it to continue operations.

Rami Atallah, who serves as chief executive for Ssense, said the filing allowed the company to avoid a sale by its primary lenders, with financial advisors called in to help stabilise operations. Interim financing of 40 million dollars was granted to help with mounting debts.

Speculation surrounding the Atallah brothers’ pursuit of full ownership began circulating in September, when media reports suggested that the family had entered the sale process for the company they jointly launched back in 2003.