March 2, 2021
Change of Scandinavia Canada Retail Inc., a Montreal, Quebec-based privately-held retailer which currently operates 26 stores across Canada under the name CHANGE Lingerie (the "Brand"), filed an NOI on March 2, listing approximately $4.1 million in liabilities, including $2.0 million to RBC. The Brand was founded in 2006 in Denmark and has over 200 stores worldwide. This NOI only pertains to the Canadian entity. Given the COVID-19 environment and impact on the retail sector, the company has suffered significant losses and a major reduction in sales. The company is currently looking to restructure its operations, which may include the closure of certain points of sale. Richter is the proposal trustee. Counsel is Kugler Kandestin for the company and Norton Rose Fulbright for the proposal trustee.