Following a year-long effort to assist the Miniso Group through a number of complex matters involving their former Canadian licensees and numerous related parties (the Migu Group), a restructuring plan and acquisition transaction were implemented pursuant to the Companies’ Creditors Arrangement Act resulting in the acquisition by the Miniso Group of approximately 45 of 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. As a result, Miniso is able to revitalize and grow their business in Canada.
A key aspect of the transaction was to preserve the Miniso Group’s reputation, positioning the brand for success in the Canadian market following the significant reorganization of existing operations. Additionally, the successful transaction ensured the jobs of over 400 Canadian employees were retained.
Fasken advised Miniso Group with a team led by Amy Carruthers, Kibben Jackson and Edmond Luke, including John F. Grieve, QC, Glen Nesbitt, (Insolvency & Restructuring), Peter Finley, Adrian Wan, Kareen Zimmer, Sarah Martin and Michael McCurrach (Corporate/Commercial), Darrell Jarvis (Franchise), Matthew Larsen (Employment), Mike Coburn, Sabina Han (Tax), KC Miu, Brent Lewis (Banking & Finance) and Dylan Chochla.