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Payless Canada

CCAA PROCEEDINGS
On February 19, 2019 Payless ShoeSource Canada Inc. ("Payless Inc.") and Payless ShoeSource Canada GP Inc. ("Payless GP" along with Payless Inc., the "Applicants") sought and obtained an initial order (the "Initial Order") from the Ontario Superior Court of Justice (the "Court") under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"). The Initial Order provides, among other things, a stay of proceedings until March 21, 2019 (the "Stay Period") which may be extended by the Court from time to time. The protections and authorizations provided by the Initial Order were also extended to Payless ShoeSource Canada LP (together with the Applicants, the "Payless Canada Entities"). Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed monitor (the "Monitor") of Payless Canada.


On October 29, 2019, the Honourable Mr. Justice McEwen granted an Order, amongst other things: i) approving and sanctioning the First Amended and Restated Plan of Compromise and Arrangement of the Payless Canada Entities dated October 16, 2019 (the "CCAA Plan"); and ii) extending the Stay Period until February 28, 2020.


On January 16, 2020 (the "Implementation Date"), the Monitor issued the Monitor's Certificate in accordance with the CCAA Plan, indicating that the Implementation Date of the CCAA Plan had occurred and the CCAA Plan, the CCAA Plan Supplement, and the provisions of the Sanction Order which come into effect on the Implementation Date are effective in accordance with their respective terms.


On February 21, 2020, the Honourable Mr. Justice McEwen granted an Order, amongst other things, extending the Stay Period until September 25, 2020.


RECEIVERSHIP
On March 20, 2020, the Receivership Certificate was served in accordance with the Receivership Order dated October 29, 2019. For information regarding the Receivership and the administration of the Wage Earner Protection Program for the benefit of former eligible employees, please select the "Receivership" link located in the menu bar on the left side of this web page.


Payless Chapter 11 Proceedings
Coinciding with the commencement of the CCAA proceeding in Canada on February 19, 2019, certain affiliates of the Payless Canada Entities, including Payless Holdings LLC and 26 other related debtors, each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Missouri (the "U.S. Chapter 11 Proceedings").


All materials filed in the U.S. Proceedings, including the First Day Orders as they are signed and uploaded, are available on the website of the U.S. Debtors' Claims and Noticing Agent, Prime Clerk LLC, at: Prime Clerk

For additional information, please contact the Monitor using the contact information below:
Phone: 416 649 8096
Toll Free: 1 855 718 5255
Fax: 416 649 8101
Email: paylesscanada@fticonsulting.com

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