The Dime 💰 - Ssense, a Cash Crunch, and the Mechanics of a Fashion Bankruptcy

Back in 2021, Ssense looked like a rocket ship. The Montreal-based luxury e-commerce platform raised at a $5 billion valuation with Sequoia Capital backing, and people were calling it the Canadian answer to Farfetch. Fast-forward to September 2025, and Ssense is in a Canadian court fighting for survival under the Companies’ Creditors Arrangement Act, or CCAA, which is essentially Canada’s version of Chapter 11 bankruptcy in the U.S. The company has filed to restructure its debts and find a way forward. If you have ever wondered how a fashion giant with a billion dollars in revenue can collapse so quickly, the filings tell the story. Here's this week's edition of The Dime💰. I've attached the filing documents below.