Cannabis Retailer Tokyo Smoke To Close 29 Stores In Canada As It Seeks Creditor Protection
Cannabis Retailer Tokyo Smoke To Close 29 Stores In Canada As It Seeks Creditor Protection
Tokyo Smoke, an award-winning cannabis retailer, announced Wednesday it has begun a restructuring of its business and obtained an Initial Order under the Companies' Creditors Arrangement Act (CCAA) from the Ontario Superior Court of Justice in Canada. As a result, it will be shutting 29 of its stores.
获奖的大麻零售商东京烟( Tokyo Smoke)于周三宣布正在对其业务进行重组，并从加拿大安大略省高级法院获得了《公司债务安排法案》(CCAA)的初步订单。因此，它将关闭29家门店。
What Happened: The Canadian company, previously owned by Canopy Growth Corp (NASDAQ:CGC), provides regulated products online as well as across 61 retail locations. It has secured financing to continue normal operations while it restructures its business.
发生了什么: 这家加拿大公司以前由Canopy Growth Corp (纳斯达克股票代码：CGC)拥有，可以在线提供受管制产品，以及在61个零售店铺销售。在进行业务重组期间，该公司已获得融资以继续正常运营。
This will include, per a company press release, "adjusting its total retail footprint through the closing of 29 locations, with continued operation of approximately 167 locations across Ontario, Manitoba, Saskatchewan and Newfoundland and Labrador."
根据公司新闻稿，这将包括"通过关闭29个门店来调整其总体零售空间，同时在安大略省、曼尼托巴省、萨斯喀彻温省和纽芬兰和拉布拉多省继续运营约167家门店。"
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This move encompasses Tokyo Smoke's various retail programs and its medical cannabis business. Retail locations unaffected by the restructuring will continue to operate in the normal course with no disruption or change to its online business or to The High Roller Club loyalty program, the company stated.
此举涵盖了东京烟的各种零售项目和其医疗大麻业务。该公司表示，未受重组影响的零售门店将继续正常运营，不会对其在线业务或The High Roller Club忠诚计划造成干扰或变动。
Following a thorough review of all available options and alternatives, Tokyo Smoke began the restructuring to align its operations with current market and regulatory conditions, which have significantly changed since the initial licensing regimes in the provinces where Tokyo Smoke operates were introduced.
在对所有可用选项和替代方案进行仔细审查后，东京烟开始进行业务重组，以使其业务与当前市场和监管条件保持一致。自东京烟所在的省份初次获得许可制度以来，市场和监管条件发生了重大变化。
The company says it will pursue an exit from CCAA protection "as a stronger business, better positioned to continue providing premium products to its customers over the long-term while continuing to provide jobs to its more than 500 dedicated employees across Canada."
该公司表示，它将追求推出CCAA保护，"成为一个更强大的企业，更好地为其客户提供优质产品，同时为加拿大的500多名全职雇员提供就业机会。"
Reconstruct LLP is acting as legal advisors to Tokyo Smoke and Alvarez & Marsal Canada Inc. is acting as the CCAA Monitor. Additional information regarding the CCAA proceedings will be made available on the Monitor's website at alvarezandmarsal.com/TokyoSmoke.
Reconstruct LLP担任东京烟的法律顾问，Alvarez & Marsal Canada Inc.则担任CCAA监察人。有关CCAA程序的其他信息将在监察人的网站alvarezandmarsal.com/TokyoSmoke上公布。
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Courtesy photo
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