SSENSE’s founders are set to retake control of the business through a court‑supervised process, in a move that could mark a new chapter for the troubled luxury e-commerce pioneer in Canada.
Founder‑led bid wins in CCAA process
SSENSE announced from Montréal on January 11, 2026, that a bid submitted by co-founders Rami Atallah, Bassel Atallah, and Firas Atallah, together with a strategic partner described as a leading Canadian multi-family office, has been selected as the successful offer in a Court-supervised Sale and Investment Solicitation Process (SISP) under the Companies’ Creditors Arrangement Act (CCAA). The parties have signed a definitive purchase agreement, setting the terms for the founder group and its financial backer to acquire the business and steer it out of restructuring.
The SISP selection follows a period of formal creditor protection, during which potential investors and buyers were invited to submit proposals for SSENSE’s assets and operations.
What happens next in the deal timeline
Closing is still subject to standard closing conditions, including approval from the Court and any other required regulatory bodies overseeing the CCAA process. Assuming all approvals arrive on schedule and all conditions are met, SSENSE expects the transaction to close no later than February 13, 2026, providing a clear near-term timeline for ownership transition.
Once the deal closes, the company will be able to move ahead with the remaining steps of the CCAA proceedings, which typically include implementing the agreed restructuring plan and addressing creditor claims. Stakeholders seeking detailed procedural updates have been directed to the Court-appointed Monitor’s site at www.ey.com/ca/ssense, which hosts formal documents and filings related to the case.
Why this matters for luxury e-commerce
A founder-led recapitalization could be pivotal for SSENSE, which has built a reputation as a global technology platform curating established and emerging luxury labels across womenswear, menswear, kidswear, and lifestyle categories under its “Everything Else™” concept. With operations rooted in Montréal and a digital-first model, the company has long differentiated itself through culture-driven storytelling, editorial content, and highly curated brand assortments.
Bringing back control to Rami, Bassel, and Firas Atallah—now supported by a Canadian multi-family office—can give SSENSE a more stable capital structure while preserving the creative and strategic DNA that made the platform influential among fashion-forward consumers worldwide.
What to watch as SSENSE moves through restructuring
As the transaction advances, several themes will be key for industry observers: how SSENSE manages vendor relationships during and after the CCAA process, whether the new ownership structure prompts changes in merchandising or private-label strategy, and how the business balances global ambitions with profitability.
Market watchers will also look for signals on how SSENSE plans to evolve its positioning “at the intersection of culture, community, and commerce,” including potential collaborations, offline experiences, or expanded categories once the court process is fully resolved.
With founder leadership reasserted and a fresh financial partner in place, the company is poised to redefine its next phase—provided the closing hits the February 13, 2026, target and remaining CCAA milestones are met on time.
