Tabi operated a retail clothing store chain with 107 leased locations in malls in all Canadian provinces, except Québec, selling women’s clothing and related accessories. Tabi employed approximately 1,300 employees.
In January 2010, Farber acted as Trustee under a BIA Proposal. This resulted in the company restructuring its balance sheet. About one year later, despite the efforts of its Chief Restructuring Officer, Tabi continued to underperform. The private secured lender/equity withdrew their financial support to the company, necessitating a second, urgent filing under the BIA.
The ensuing liquidation of inventory, fixtures and IP assets at the remaining 70 retail locations maximized recoveries to the secured lenders.