Nordstrom Canada’s CCAA restructuring and plan of arrangement

Goodmans LLP acted as counsel to Alvarez & Marsal Canada, the Monitor of the Nordstrom Canada Entities, in connection with the proceedings of Nordstrom Canada under the Companies’ Creditors Arrangement Act (the “CCAA”). 

The Nordstrom Canada Entities operated thirteen large retail stores in prominent shopping malls in Ontario, British Columbia, and Alberta. The CCAA proceedings facilitated Nordstrom’s orderly exit from the Canadian marketplace through consensual resolutions with a broad range of stakeholders, including landlords and international luxury brands that operated concessions in Nordstrom Canada stores. Substantial recoveries for unsecured creditors were implemented through a CCAA plan of arrangement that was unanimously approved by voting creditors.