April 22, 2025

On April 22, 2025, the previously Court-approved transaction between the Purchaser and the Vendor was completed, and the Monitor issued the Monitor’s Certificate.

March 21, 2025

On March 21, 2025, the Court granted an order (the “Approval and Reverse Vesting Order”), among other things, approving the transaction between the Purchaser and the Vendor as contemplated by the Stalking Horse Purchase Agreement (the “SPA Transaction”).

February 19, 2025

On February 19, 2025, the previously Court-approved transaction between the Putman Purchaser and the Targets was completed, and the Monitor issued the Monitor’s Certificate.

February 17, 2025

On February 17, 2025,  16751598 Canada Inc. (the “Purchaser”) and 9383921 Canada Inc. (the “Vendor”) entered into the Stalking Horse Purchase Agreement (as defined in paragraph 7 of the Stalking Horse Sale Process Approval Order). The contemplated transaction, which remains subject to designation as the successful bid in the Sale Process and Court approval, includes certain assets and leases of Bootlegger, together with certain assets of Comark (each as defined and described in the Stalking Horse Purchase Agreement).  A copy of the Stalking Horse Purchase Agreement can be accessed here.

February 4, 2025

On February 4, 2025, the Court granted various orders, including:

• An order (the “Approval and Vesting and DIP Assignment Order”), among other things, approving the Putman Transaction as contemplated by the APA and approving the DIP Assignment and Assumption; and
• an order (the “Stalking Horse Sale Process Approval Order”), among other things, approving the Stalking Horse Sale Process for Bootlegger.

February 3, 2025

On February 3, 2025, cleo and Ricki’s (collectively, the “Targets”) entered into an asset purchase agreement with 10011110197 Ontario Inc. (the “Putman Purchaser”), an affiliate of Putman Investments Inc. (“Putman”) (the “APA”). Under the terms of the transaction, the Purchaser will acquire certain assets and assume certain leases of the Targets (the “Putman Transaction”).

January 17, 2025

On January 17, 2025, the Court granted various orders, including:

• An order, (the “Amended and Restated Initial Order”), among other things, extending the stay of proceedings pursuant to the CCAA; and
• an order, (the “Realization Process Approval Order”), among other things, authorising the Applicants to commence a liquidation sale of its active store locations.

January 7, 2025

On January 7, 2025, Comark Holdings Inc. (“Comark”), Bootlegger Clothing Inc. (“Bootlegger”), cleo fashions Inc. (“cleo”), and Ricki’s Fashions Inc. (“Ricki’s”) (collectively, the “Applicants” or “Comark Retail”) made an application to the Ontario Superior Court of Justice (Commercial List) (the “Court”) and were granted an order (the “Initial Order”), which, among other things, provides for a stay of proceedings pursuant to the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”).

Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor”) of the business and financial affairs of the Applicants.