Canadian retailing conglomerate restructures and refinances under CCAA

01 January 2015

A team of Gowlings restructuring and lending professionals acted for the senior secured lender in the successful restructuring and refinancing of a Canadian retailing conglomerate under the Companies’ Creditors Arrangement Act (Canada).

The deal involved the establishment of a revolving DIP financing facility for the retailer during the CCAA proceedings of up to $25 million and a $22.5 million revolving ABL facility that financed the acquisition of the retailer’s business out of the CCAA proceedings.

The financing team, led by Harold Chataway, and the restructuring team, led by David Cohen, included Alex MacFarlane, Richard Dusome and Kelby Carter.


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