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Payless Holdings LLC

Introduction

On April 4, 2017 (the “Filing Date”), Payless Holdings LLC (“Payless Holdings”), Payless ShoeSource Canada Inc. (“PSS Canada”), Payless ShoeSource Canada GP Inc. (“PSS GP Inc.”) and Payless ShoeSource Canada LP (“Payless LP”) together with the other entities listed below (collectively, “Payless”, or the “Chapter 11 Debtors”) commenced voluntary reorganization proceedings (the “Chapter 11 Proceedings”) in the United States Bankruptcy Court for the Eastern District of Missouri (the “US Court”) by filing voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code, 11 U.S.C. 101-1532 (the “US Code”).  In connection with the Chapter 11 Proceedings, the US Court has appointed Payless Holdings as the foreign representative of the estates of the Chapter 11 Debtors (the “Foreign Representative”).
 
There are 29 Chapter 11 Debtors, as follows:
 
·       Payless Holdings LLC
·       Shoe Sourcing, Inc
·       Payless ShoeSource Canada Inc.
·       Payless ShoeSource, Inc
·       Payless ShoeSource Canada GP Inc.
·       Eastborough, Inc.
·       Payless ShoeSource Canada LP.
·       Payless Purchasing Services, Inc.
·       Payless Intermediate Holdings LLC
·       Payless ShoeSource Merchandising, Inc.
·       WBG PSS Holdings LLC
·       Payless Gold Value CO, Inc.
·       Payless Inc.
·       Payless ShoeSource Distribution, Inc.
·       Payless Finance, Inc.
·       Payless ShoeSource Worldwide, Inc.
·       Collective Brands Services, Inc.
·       Payless NYC, Inc.
·       PSS Delaware Company 4, Inc.
·       Payless ShoeSource of Puerto Rico, Inc.
·       Payless Collective GP, LLC
·       Payless International Franchising, LLC
·       Collective Licensing, L.P.
·       Collective Brands Logistics, Limited
·       Collective Licensing International LLC
·       Dynamic Assets Limited
·       Clinch, LLC
·       PSS Canada, Inc.
·       Collective Brands Franchising Services, LLC
 

 

Upon application made by the Foreign Representative under section 46 of the Companies’ Creditors Arrangement Act (the “CCAA Recognition Proceedings”), the Ontario Superior Court of Justice (Commercial List) granted an Initial Recognition Order on April 7, 2017, among other things:
 
(i) declaring that the Chapter 11 Proceedings are recognized as a “foreign main proceeding”;
 
(ii) declaring that Payless Holdings is a Foreign Representative of the Chapter 11 Proceedings; and
 
(iii) granting a stay of proceedings in respect of the Chapter 11 Debtors.
 
Furthermore, on April 12, 2017, the Ontario Superior Court of Justice (Commercial List) issued an Endorsement, among other things:
 
(i) recognizing in Canada and enforcing certain orders granted by the US Court in the Chapter 11 Proceedings;
 
(ii) appointing Alvarez & Marsal Canada Inc. as the Information Officer in respect of the CCAA Recognition Proceedings.

 

Contact Us

If you have any questions regarding this matter, please contact the Information Officer at the following address:

Alvarez & Marsal Canada Inc.
Royal Bank Plaza, South Tower
200 Bay Street
Suite 2900
P.O. Box 22
Toronto, ON M5J 2J1​
Attention: Matt Brouwer
Electronic Mail: mbrouwer@alvarezandmarsal.com
Telephone: 416-847-5182
Facsimile: 416-847-5201

 

The Foreign Representative of the Chapter 11 Proceedings may be contacted through its Canadian legal counsel at the following address:

Osler, Hoskin & Harcourt LLP
1 First Canadian Place,
100 King Street West, Toronto, ON,
Canada M5X 1B8
Attention: Patrick Riesterer
Phone: 416-862-5947
Fax: 416-862-6666
Email: priesterer@osler.com