June 8, 2020
Coalision Inc., a Montreal, Quebec-based designer and developer of lifestyle and performance apparel, including activewear brand Lolë, filed an NOI on May 26, listing approximately $17.2 million in liabilities to CIBC and $15.3 million to Simon Coalision Investment Inc. Founded in 1989, the company recorded significant losses for the last several years, which have primarily been caused by a general downturn in the global retail clothing market; competition from other established and emerging clothing retailers; shifts in consumer habits; and excess inventory. The COVID-19 pandemic and closure of all the Lolë stores had a further detrimental impact on the company's business and revenues. Deloitte is the proposal trustee. Counsel is McCarthy Tétrault for the company and Fishman Flanz Meland Paquin for CIBC.