October 31, 2017
Spareparts, a Saskatoon, Saskatchewan-based leading retailer of sunglasses, watches and accessories, filed for protection under the CCAA on October 31, after two of its companies filed NOIs on October 2 and 3. The company has suffered from the overall decline in the North American retail marketplace, exacerbated by the severe economic downturn in Alberta where several of the company's retail locations are located. Currently, the company has over $5.0MM in liabilities, owing approximately $3.9MM to RBC. KPMG was appointed monitor. McCarthy Tétrault is counsel to the company.