Stokes Inc., a Montréal-based kitchenware and homeware retailer, obtained CCAA protection on November 15, 2024, due to financial struggles from high interest rates, inflation, competition, and declining sales. Founded in 1935, the company operated 95 stores across Canada but could not successfully restructure its debt, including over CAD $15 million and over USD $2 million owed to BNS. As part of the court-supervised process, Stokes will liquidate 45 underperforming stores, retaining 50 locations in Ontario and Québec. EY was appointed as the monitor.

Osler represented Stokes, McCarthy Tétrault acted for EY, and Kugler Kandestin advised BNS. Stikeman Elliott represented Tiger Asset Solutions Canada and B. Riley Retail Canada, while Gowling WLG and Camelino Galessiere advised landlords, including Cominar and Morguard.