Another One Bites The Dust: SLANG Worldwide Files For Bankruptcy Due To Inability To Pay Debt
Another One Bites The Dust: SLANG Worldwide Files For Bankruptcy Due To Inability To Pay Debt
SLANG Worldwide Inc. (CSE:SLNG) (OTCQB:SLGWF) confirmed Tuesday it is entering receivership in Colorado and declared bankruptcy in Canada. The Toronto-based cannabis company finalized a wind-down plan for its assets and subsidiaries with its secured lenders. This decision follows the company's expectation that it will not be able to repay amounts owed under its credit agreement, which matures on Nov. 15, 2024.
SLANG Worldwide Inc. (CSE:SLNG) (OTCQB:SLGWF)確認週二進入科羅拉多州的接管，並在加拿大宣佈破產。這家總部位於多倫多的大麻公司已經爲其資產和子公司制定了清盤計劃，與其有擔保的債權人達成協議。該決定是基於公司預計將無法償還截至2024年11月15日到期的信貸協議下的欠款金額。
Under the wind-down plan, the company will pursue several steps. It plans to dispose of its Colorado assets through a receivership process involving its Colorado subsidiaries. In Canada, the company will file for bankruptcy under the Bankruptcy and Insolvency Act. In Vermont, its subsidiaries may sell their assets, with any remaining assets assigned for the benefit of creditors, pending local regulatory approval.
根據清盤計劃，該公司將採取幾個步驟。公司計劃通過涉及其科羅拉多子公司的接管程序處置其科羅拉多資產。在加拿大，該公司將根據《破產及破產法》申請破產。在佛蒙特州，其子公司可能出售其資產，剩餘資產將分配給債權人，等待當地監管機構的批准。
Read Also: Global Cannabis Consumer Packaged Goods SLANG At Risk: $17.3M Debt And Revenue Drops Spell Trouble
閱讀更多：全球大麻包裝消費品SLANG風險：1730萬美元債務和營收下降預示麻煩
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Despite the company's best efforts, it has been unable to attract a viable transaction to restructure its debts and/or seek any sales of the company or of its assets in the normal course. The decision to approve and enter into the wind-down plan was made after careful consideration of the current financial condition of the company and its subsidiaries, the company's inability to pay its liabilities as they become due and negotiations between the company and the lenders.
儘管公司已竭盡全力，但未能吸引任何可行的交易來重組其債務和/或尋求公司或其資產的正常銷售。在仔細考慮了公司及其子公司的當前財務狀況、公司無法按期支付其債務以及公司與債權人之間的談判後，批准並執行清盤計劃的決定被做出。
The company anticipates that B. Riley Farber Inc. will be appointed as the trustee under the bankruptcy proceedings.
公司預計b.Riley Farber公司將被任命爲破產訴訟的受託人。
SLANG is one of several cannabis operators to go bankrupt recently, including California cannabis company StateHouse Holdings, MedMen, Eaze, Herbl, Green Dragon, and more.
SLANG是最近破產的幾家大麻運營商之一，包括加州大麻公司StateHouse Holdings，MedMen，Eaze，Herbl，Green Dragon等。
Photo: Courtesy of Smart Calendar via Shutterstock
圖片：來自Shutterstock的智能日曆示意圖
譯文內容由第三人軟體翻譯。
