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Payless Canada - Receivership


PAYLESS CANADA ENTITIES - RECEIVERSHIP

Please take notice that, on October 29, 2019, the Court issued a Receivership Order that appoints FTI Consulting Canada Inc. as receiver (the "Receiver") without security pursuant to section 243(1) of the Bankruptcy and Insolvency Act of all Employee Distributions (as defined in the sanctioned First Amended and Restated Plan of Compromised and Arrangement of the Payless Canada Entities dated October 16, 2019 (the "CCAA Plan")), cash in the amount of $100 to be transferred by Payless ShoeSource Canada LP, and no other property of the Payless Canada Entities (the "Receivership"), pending service on the Service List of the certificate attached as Schedule "A" to the Receivership Order (the "Receivership Certificate") confirming that the Affected Creditor Distribution Date has occurred (the "Receivership Effective Date").

As the Affected Creditor Distribution Date has not yet occurred in relation to the CCAA Plan of the Payless Canada Entities, the Receiver has not filed the Receivership Certificate and the Receivership Effective Date has not yet occurred. Please continue to check this webpage for updates on the status and initiation of the Receivership.

A copy of the Receivership Order granted is located at the following address: Receivership Order

WAGE EARNER PROTECTION PROGRAM ("WEPP")

As the Receivership Certificate has not been filed and the Receivership is not yet effective, an administration of the WEPP for the benefit of the former eligible employees of Payless Canada LP has not begun at this time.

We recommend that former employees periodically check this webpage for updates on the status of the Receivership.

For additional information regarding the WEPP, please refer to the Government of Canada's website located at the following address: Wage Earner Protection Program for an Employee

Contact FTI

FTI Consulting
TD Waterhouse Tower
79 Wellington Street West
Suite 2010, P.O. Box 104
Toronto, Ontario M5K 1G8

Useful Links

FTI Consulting
Office of the Superintendent of Bankruptcy Canada