On April 24, 2024, Ted Baker Canada Inc., Ted Baker Limited, OSL Fashion Services Canada Inc. and OSL Fashion Services, Inc. (collectively, the “Applicants”) 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.

On April 24, 2024, the Applicants also commenced ancillary proceedings in the United States Bankruptcy Court for the Southern District of New York (the “U.S. Bankruptcy Court”) under Chapter 15 of the United States Bankruptcy Code (the “Chapter 15 Proceedings”), 11 U.S.C. 101-1330, as amended, seeking recognition of the CCAA proceedings as foreign main proceedings and to give effect to the Initial Order in the United States.  On or about April 26, 2024, the U.S. Bankruptcy Court entered orders granting provisional relief and scheduling a hearing on the Applicants’ request for recognition of the CCAA as foreign main proceedings for May 8, 2024 (the “Recognition Hearing”).