Bankruptcy of Tween Brands Canada Stores Ltd.
On July 23, 2020 Tween Brands Canada Stores Ltd. (“Tween Canada” or the “Company”) filed a Notice of Intention to Make a Proposal (“NOI”) pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act (Canada) (“BIA”) and PricewaterhouseCoopers Inc., LIT (“PwC”) was named as the Licensed Insolvency Trustee under the NOI (the “Proposal Trustee”).
On August 24, 2020, Tween Canada was deemed bankrupt as no proposal was filed by the Company and PwC was appointed as Licensed Insolvency Trustee of the bankrupt estate of Tween Canada (the “Bankruptcy Trustee”).
On August 31, 2020, the notice of the bankruptcy and the first meeting of creditors, a proof of claim form and materials relating to the bankruptcy proceedings (the “Bankruptcy Notice”) was sent by the Bankruptcy Trustee to all known creditors of the Company, pursuant to the provisions of the BIA.
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