Luxury Retailer Ssense’s Founders Get Buyout Approval

A founder-led buyout of Canadian luxury fashion retailer Ssense obtained court approval, despite a group of lenders seeking to block the deal and pushing for a liquidation process to recover more money.

“After months of uncertainty, the closing of the transaction marks an important milestone and affirms our ability to continue building Ssense for the long term,” the company said in an emailed statement. The deal closed on Feb. 13.

In a Feb. 4 decision, the Quebec Superior Court dismissed an attempt by a group of lenders to block a transaction allowing the brothers who founded the retailer to ...