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)确认周二进入科罗拉多州的接管，并在加拿大宣布破产。这家总部位于多伦多的大麻公司已经为其资产和子公司制定了清盘计划，与其有担保的债权人达成协议。该决定是基于公司预计将无法偿还截至2024年11月15日到期的信贷协议下的欠款金额。
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.
根据清盘计划，该公司将采取几个步骤。公司计划通过涉及其科罗拉多子公司的接管程序处置其科罗拉多资产。在加拿大，该公司将根据《破产及破产法》申请破产。在佛蒙特州，其子公司可能出售其资产，剩余资产将分配给债权人，等待当地监管机构的批准。
Read Also: Global Cannabis Consumer Packaged Goods SLANG At Risk: $17.3M Debt And Revenue Drops Spell Trouble
阅读更多：全球大麻包装消费品SLANG风险：1730万美元债务和营收下降预示麻烦
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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.
尽管公司已竭尽全力，但未能吸引任何可行的交易来重组其债务和/或寻求公司或其资产的正常销售。在仔细考虑了公司及其子公司的当前财务状况、公司无法按期支付其债务以及公司与债权人之间的谈判后，批准并执行清盘计划的决定被做出。
The company anticipates that B. Riley Farber Inc. will be appointed as the trustee under the bankruptcy proceedings.
公司预计b.Riley Farber公司将被任命为破产诉讼的受托人。
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是最近破产的几家大麻运营商之一，包括加州大麻公司StateHouse Holdings，MedMen，Eaze，Herbl，Green Dragon等。
Photo: Courtesy of Smart Calendar via Shutterstock
图片：来自Shutterstock的智能日历示意图
