Ssense Bankruptcy Crisis: Sales Drop Fuels Forced Sale Threat
Ssense bankruptcy protection has been filed by the Montreal-based luxury retailer following creditor pressure for a forced sale. The Canadian e-tailer announced to employees that Ssense bankruptcy became necessary after Trump tariffs caused a 28% sales drop, and this has sparked concerns about the company’s financial stability right now. Also Read: Mastercard Partners With Circle to Deploy $65.2B USDC Globally Ssense Bankruptcy Protection And Sales Drop Spark Forced Sale Concerns Source: Watcher.Guru The Ssense bankruptcy filing comes as creditors actually pushed to force a sale under the Companies’ Creditors Arrangement Act (CCAA). Chief Executive Rami Atallah revealed that management filed their own CCAA application within 24 hours to prevent the forced sale and maintain control over operations. Trump Tariffs Trigger Sales Drop Crisis Trump administration trade policies imposing 25 percent tariffs on Canadian goods caused the dramatic sales drop. The closure of the “...