SRx Group of Companies, an Ontario-based operator of 17 specialty pharmacies and 19 clinics across Canada, entered Companies’ Creditors Arrangement Act (CCAA) protection on August 12, 2025. The group, which previously employed over 200 staff, specializes in providing critical health services and administering specialty medications for complex, chronic, and life-threatening conditions such as HIV/AIDS, cancer, and rare genetic disorders. Recent aggressive expansion into the retail pharmacy sector resulted in rapid but unsustainable growth, leading to substantial debt and strained cash flow. Without debtor-in-possession (DIP) funding, SRx Group was unable to meet payroll and faced enforcement actions from key suppliers and landlords. The CCAA proceedings aim to stabilize the business, facilitate an orderly wind-down, and ensure continued care for vulnerable patients during the transition.

Caravel Capital Investments is providing the DIP loan to support these efforts. Grant Thornton has been appointed as monitor. Legal advisors involved in the proceedings include Miller Thomson for SRx Group, Cozen O’Connor for the monitor, McCarthy Tétrault for National Bank of Canada (NBC), Manis Law for Adesh Vora, and Norton Rose Fulbright for Gilead Sciences Canada.