The Tamesis
SSense is entering its next phase. On February 18, Ssense’s founders received approval from the Quebec Superior Court to acquire a stake in the Canadian retailer. The approval follows news last month that Ssense’s founding family – CEO Rami Atallah and his co-founder brothers Firas and Bassel – won a bid to retain ownership of the company after it emerges from bankruptcy.
Now, bankruptcy protection proceedings will continue under Aala’s leadership. “After months of uncertainty, the completion of this transaction marks an important milestone and affirms our ability to continue building Ssense for the long term,” a spokesperson said in a statement. “Throughout this process, our top priority has been to maintain operations, protect jobs, and provide stability for our employees, customers, suppliers and partners. Once the transaction closes, we will move forward with determination and confidence. We remain committed to our purpose of driving culture forward and providing a platform to amplify the voices that shape culture – and we are grateful to the community for its support during this time.” (SSense declined to comment further at this stage.)
However, community support has wavered over the past year. In August 2025, Ssense filed for bankruptcy protection under the Canadian Companies Creditors Arrangement Act (CCAA). Previously, the retailer was in trouble and laid off more than 100 employees due to the high tariffs imposed by the United States on Canada. Customers complained online that Ssense orders were incurring additional fees upon delivery, as well as shipping delays and customer service difficulties over time. In September, Ssense received court approval to reorganize its business under the leadership of the founding family. Brands have been left in limbo, with many awaiting hundreds of thousands of dollars in unpaid payments, according to August court filings. A group of lenders owed about C$113 million ($82.6 million) tried to block the acquisition and instead pushed for liquidation of the company to recoup more money.
Now that the retailer has a path forward, questions have begun about what the company’s future will look like. Ssense has long been a destination for independent brands and a discovery point for consumers keen to invest in small, growing fashion businesses not found in large retailers. To maintain its appeal, Ssense needs to continue to prioritize independent brands. “If it doesn’t continue to do that, then it’s no longer Ssense,” said Gary Wassner, CEO of factor Hilldun Corporation. “It’s better to change the name and start from scratch.”
However, keeping these designers with the company is not easy. While brands are cautiously optimistic about Saks Global’s future, largely because of their relationships and trust with Saks’ new leadership team, Ssense doesn’t have that advantage moving forward under its founder. That’s not necessarily a bad thing, Wasner said. “A company’s founding vision is usually the strongest,” he says. Without them, a company could lose its identity and quickly become mediocre, Wasner adds.
Experts are optimistic that this could provide an opportunity for a much-needed reset. “They’ve become so big that they need to be recalibrated,” said luxury goods consultant Robert Burke. Neil Saunders, managing director and retail analyst at Globaldata, agrees. “There are still big question marks over the purpose of Ssense and how it will differentiate itself in the market,” he said. “In later years, it became a clutter of brands that seemed more about leveraging discounts and sales than having a unique point of view.”
To correct this, Burke does not foresee an overhaul but rather a refinement of strategy. “I don’t think they’re going to make a big change in terms of sales,” he said. “I think they’ll pull it in and talk to customers they know – and probably be more organic in their growth.”
