{"id":36626,"date":"2025-07-23T08:52:00","date_gmt":"2025-07-23T12:52:00","guid":{"rendered":"https:\/\/www.millerthomson.com\/?post_type=deals-cases&#038;p=36626"},"modified":"2026-04-23T18:45:48","modified_gmt":"2026-04-23T22:45:48","slug":"gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis","status":"publish","type":"deals-cases","link":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/","title":{"rendered":"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s"},"content":{"rendered":"\n<p>On July 23, 2025, Gordon Brothers announced that they have provided C$30 million to finance the Canadian women\u2019s clothing retailer Northern Reflections\u2019 acquisition of two other Canadian women\u2019s retailers, Cleo and Ricki\u2019s.<\/p>\n\n\n\n<p>Since 1903, Gordon Brothers has maximized liquidity through realizable asset value by providing the people, expertise and capital to solve business challenges. Their solutions-oriented approach across asset services, lending, financing and trading gives clients the insights, strategies and time to optimize asset values throughout the business cycle.<\/p>\n\n\n\n<p>Founded in 1985, Northern Reflections Ltd. is a proudly Canadian women\u2019s apparel brand, celebrated for its quality fabrics, comfort-first fashion and timeless style.<\/p>\n\n\n\n<p>Miller Thomson advised Gordon Brothers with a team led by Kenneth Rosenstein and comprised of Kristen Louie, Cindy Adams (Financial Services), Karen Durell (IP\/IT), Gregory Azeff (Restructuring and Insolvency) and Jessie Chau (Paraprofessional).<\/p>\n","protected":false},"author":92,"template":"","class_list":["post-36626","deals-cases","type-deals-cases","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s | Miller Thomson<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s | Miller Thomson\" \/>\n<meta property=\"og:description\" content=\"On July 23, 2025, Gordon Brothers announced that they have provided C$30 million to finance the Canadian women\u2019s clothing retailer Northern Reflections\u2019 acquisition of two other Canadian women\u2019s retailers, Cleo and Ricki\u2019s. Since 1903, Gordon Brothers has maximized liquidity through realizable asset value by providing the people, expertise and capital to solve business challenges. Their [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/\" \/>\n<meta property=\"og:site_name\" content=\"Miller Thomson\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/MillerThomsonLaw\/\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-23T22:45:48+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@millerthomson\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/\",\"url\":\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/\",\"name\":\"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s | Miller Thomson\",\"isPartOf\":{\"@id\":\"https:\/\/www.millerthomson.com\/en\/#website\"},\"datePublished\":\"2025-07-23T12:52:00+00:00\",\"dateModified\":\"2026-04-23T22:45:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.millerthomson.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Deals and Cases\",\"item\":\"https:\/\/www.millerthomson.com\/en\/deals-cases\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.millerthomson.com\/en\/#website\",\"url\":\"https:\/\/www.millerthomson.com\/en\/\",\"name\":\"Miller Thomson\",\"description\":\"National law firm providing business law expertise and litigation and disputes services for businesses across Canada since 1957.\",\"publisher\":{\"@id\":\"https:\/\/www.millerthomson.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.millerthomson.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.millerthomson.com\/en\/#organization\",\"name\":\"Miller Thomson\",\"url\":\"https:\/\/www.millerthomson.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.millerthomson.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.millerthomson.com\/wp-content\/uploads\/2024\/10\/miller-thomson.svg\",\"contentUrl\":\"https:\/\/www.millerthomson.com\/wp-content\/uploads\/2024\/10\/miller-thomson.svg\",\"width\":380,\"height\":50,\"caption\":\"Miller Thomson\"},\"image\":{\"@id\":\"https:\/\/www.millerthomson.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/MillerThomsonLaw\/\",\"https:\/\/x.com\/millerthomson\",\"https:\/\/www.linkedin.com\/company\/miller-thomson-llp\/\",\"https:\/\/www.youtube.com\/@millerthomson\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s | Miller Thomson","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/","og_locale":"en_US","og_type":"article","og_title":"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s | Miller Thomson","og_description":"On July 23, 2025, Gordon Brothers announced that they have provided C$30 million to finance the Canadian women\u2019s clothing retailer Northern Reflections\u2019 acquisition of two other Canadian women\u2019s retailers, Cleo and Ricki\u2019s. Since 1903, Gordon Brothers has maximized liquidity through realizable asset value by providing the people, expertise and capital to solve business challenges. Their [&hellip;]","og_url":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/","og_site_name":"Miller Thomson","article_publisher":"https:\/\/www.facebook.com\/MillerThomsonLaw\/","article_modified_time":"2026-04-23T22:45:48+00:00","twitter_card":"summary_large_image","twitter_site":"@millerthomson","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/","url":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/","name":"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s | Miller Thomson","isPartOf":{"@id":"https:\/\/www.millerthomson.com\/en\/#website"},"datePublished":"2025-07-23T12:52:00+00:00","dateModified":"2026-04-23T22:45:48+00:00","breadcrumb":{"@id":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.millerthomson.com\/en\/deals-cases\/gordon-brothers-provides-c30m-to-finance-northern-reflections-acquisition-of-cleo-rickis\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.millerthomson.com\/en\/"},{"@type":"ListItem","position":2,"name":"Deals and Cases","item":"https:\/\/www.millerthomson.com\/en\/deals-cases\/"},{"@type":"ListItem","position":3,"name":"Gordon Brothers provides C$30M to finance Northern Reflections\u2019 acquisition of Cleo &amp; Ricki\u2019s"}]},{"@type":"WebSite","@id":"https:\/\/www.millerthomson.com\/en\/#website","url":"https:\/\/www.millerthomson.com\/en\/","name":"Miller Thomson","description":"National law firm providing business law expertise and litigation and disputes services for businesses across Canada since 1957.","publisher":{"@id":"https:\/\/www.millerthomson.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.millerthomson.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.millerthomson.com\/en\/#organization","name":"Miller Thomson","url":"https:\/\/www.millerthomson.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.millerthomson.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.millerthomson.com\/wp-content\/uploads\/2024\/10\/miller-thomson.svg","contentUrl":"https:\/\/www.millerthomson.com\/wp-content\/uploads\/2024\/10\/miller-thomson.svg","width":380,"height":50,"caption":"Miller Thomson"},"image":{"@id":"https:\/\/www.millerthomson.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/MillerThomsonLaw\/","https:\/\/x.com\/millerthomson","https:\/\/www.linkedin.com\/company\/miller-thomson-llp\/","https:\/\/www.youtube.com\/@millerthomson"]}]}},"_links":{"self":[{"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/deals-cases\/36626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/deals-cases"}],"about":[{"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/types\/deals-cases"}],"author":[{"embeddable":true,"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/users\/92"}],"version-history":[{"count":1,"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/deals-cases\/36626\/revisions"}],"predecessor-version":[{"id":49489,"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/deals-cases\/36626\/revisions\/49489"}],"wp:attachment":[{"href":"https:\/\/www.millerthomson.com\/en\/wp-json\/wp\/v2\/media?parent=36626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}