AYR Wellness together with its affiliates and subsidiaries have announced the next step of its debt restructuring process.
According to a recently published press release, AYR will move forward with a foreclosure sale managed by Odyssey Trust Company, acting as the collateral trustee for AYR's senior noteholders.
Following instructions from noteholders who hold a majority of AYR's outstanding senior notes, the company plans to hold a public sale of certain assets and equity interests. The sale will include specific assets and subsidiary interests tied to AYR's ongoing operations in Florida, New Jersey, Nevada, Ohio, Massachusetts, and Pennsylvania.
"The commencement of the Article 9 proceedings and public auction process marks the latest milestone in our ongoing restructuring process, said Scott Davido, Interim CEO of AYR. "As we work to transition the ownership of many of the Company's assets to the successful bidder, throughout this entire process, AYR will continue to fully operate these businesses and continue to deliver the same high quality of products and services."
For more information:
Ayr Wellness
www.ayrwellness.com
