Comark Group’s restructuring proceedings

Goodmans LLP is counsel for Alvarez & Marsal Canada Inc. in its capacity as court-appointed monitor in the recognition proceedings of Comark Group under the Companies’ Creditors Arrangement Act (the “CCAA”).

The Comark Group operates more than 220 retail stores across eight Canadian provinces under the Ricki’s, cleo and Bootlegger banners (the “Retail Entities”). Ricki’s, cleo and Bootlegger have operated as retail clothing stores in Canada since 1939, 1994 and 1971 respectively.

Since completing a successful CCAA restructuring in 2020, the Comark Group has experienced several financial and operational challenges in recent years that have negatively impacted profitability and strained the Comark Group’s liquidity. In January 2025, the Comark Group commenced CCAA proceedings to obtain a stay of proceedings and to create a stabilized environment to maximize the value of its business and assets.

Goodmans LLP continues to be a leader in the corporate and M&A space, bringing strength to advising major multinational corporates and financial institutions involved in high-value, multi-jurisdictional M&A, reorganisations and corporate governance matters. — The Legal 500 Canada
Clients note, "One of the deepest insolvency practices in the country. They have a strong bench which allows for them to put forward excellent professionals for each mandate." — The Legal 500 Canada
One interviewee reported "I chose to work with them because of their expertise in Canadian restructurings and their practical, hands-on approach," further praising the team as "very knowledgeable, business-minded and commercial." — Chambers Canada
The firm houses a distinguished bench of lawyers who offer deep and broad expertise to both debtors and creditors, as well as notable skill advising on matters arising within regulated industries, including telecoms, energy and resources. — Chambers Global
Clients remark, "Goodmans provides strong advice that is creative yet practical. They have tremendous experience and are commercially savvy." — Chambers Canada
Goodmans represents an impressive range of commercial clients, with notable experience advising bondholders and acting on large international insolvencies. — Chambers Canada
One client noted, "Goodmans practices at the highest level. The team really understands the market and clients' business objectives."
— Chambers Canada
Clients note, "Tremendous quality and depth of talent top to bottom... The best younger partners and senior leaders in the market." — IFLR1000
On the Restructuring Group, interviewees say, “They are the best of the best in insolvency matters. Extremely knowledgeable on all matters, incredibly well prepared and very thorough.” — IFLR1000
One client noted, "The restructuring team at Goodmans is hands down the best in Canada. They are extremely commercial, smart and always demonstrate excellent judgment." — IFLR1000
Clients remark, "Goodmans' greatest asset is the breadth and depth of their team. Other law firms may have one or two top-notch lawyers, but no other law firm matches for overall team strength." — IFLR1000

Practices

Industries

Comark Group’s restructuring proceedings

Site Search

Comark Group’s restructuring proceedings

Expertise

Featured Work