We represent Miniso Group, which produces and licenses the Miniso Brand of Japanese lifestyle products, in relation to a creditor-initiated Companies’ Creditors Arrangement Act (CCAA) proceeding concerning the Miniso Group’s former Canadian licensee, Migu Investments Inc., and numerous related parties (the “Migu Group”).
The Miniso Group was owed in excess of C$35,000,000 by the Migu Group, and the respondent debtors had total liabilities well in excess of C$50 million. The CCAA proceeding is ongoing, but in mid-November 2019, a restructuring plan and acquisition transaction was implemented resulting in the acquisition by the Miniso Group of approximately 40 of the 80 stores owned and operated by the Migu Group in British Columbia, Alberta and Ontario, as well as the transfer of four stores to a Quebec franchisee.
The matter is ongoing as many of the debtor companies remain in protection while a final plan is negotiated among the stakeholders.
Fasken advises the Miniso Brand in the insolvency proceedings with a team led by Kibben Jackson and includes John Grieve, QC, Glen Nesbitt, Fergus McDonnell, Dylan Chochla, and Daniel Richer (Insolvency & Restructuring), Edmond Luke, Amy Carruthers, Kareen Zimmer and Adrian Wan (Corporate/Commercial).
Jurisdiction
- British Columbia
