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Canadian retailer Ssense is filing for bankruptcy protection after lenders tried to force a sale of the company, according to a memo sent to employees on Thursday. CEO Rami Atallah and his brothers Bassel and Firas founded the Montreal-based platform in 2003. It is known by fashion fans for featuring designer brands and independent labels alike, as well as for its popular biannual sales. Ssense executives say they didn’t consent to the attempted sale The company said creditors want to put Ssense for sale under the Companies’ Creditors Arrangement Act, which allows corporations owing creditors over $5 million to restructure their finances while continuing to operate. Instead, the company filed its own CCAA application “to protect the company, keep control of our assets and operations, and fight for the future of the company,” according to The Business of Fashion . “We are deeply disappointed in this decision, which we believe does not serve the long-term interests of our 1,000+...
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