SSENSE Founders Win Bid to Maintain Control
Stability restored.
Summary
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The Atallah family has successfully won a court-approved bid to retain full ownership of Ssense, ensuring the luxury e-tailer remains under the control of its original founders as it exits bankruptcy protection
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Expected to close by February 13, 2026, the deal provides much-needed stability for employees and partners, with the existing executive team remaining in place to lead day-to-day operations
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To maintain continuity amidst a volatile luxury market, Ssense has utilized interim financing to pre-pay for Fall/Winter 2025 and Spring/Summer 2026 inventory, signaling a commitment to its brand suppliers
The future of SSENSE has been secured by the very hands that built it. Over the weekend, the luxury e-commerce giant announced that a Canadian court has accepted a bid from co-founders Rami, Firas, and Bassel Atallah to retain ownership of the company. Partnering with a Canadian multi-family office, the Atallahs successfully moved to keep the Montréal-based retailer under founding control as it prepares to emerge from bankruptcy protection.
The deal, expected to close by February 13, 2026, follows a turbulent period that began when SSENSE filed for restructuring in September 2024 to manage over $200 million USD in debt. This strategic filing pre-empted attempts by creditors to force a third-party sale. In an internal memo, the executive team reassured staffers that “day-to-day leadership remains unchanged,” emphasizing a commitment to providing “continuity and stability” for employees, suppliers, and global customers.
While the broader luxury sector faces a reckoning—highlighted by LuisaViaRoma’s bankruptcy and the imminent filing of Saks Global—Ssense appears to be navigating a best-case recovery. Despite a reported 60% dip in U.S. monthly sales late last year, the company has stayed operational through interim financing. Crucially, Ssense has prioritized brand partnerships by making pre-payments for Fall/Winter 2025 and Spring/Summer 2026 inventory. By securing this bid, the Atallah family ensures that Ssense remains a vital, independent platform for the mix of established and emerging designers that defined its $4.5 billion USD peak.
