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Tilray Brands Inc TLRY

Alternate Symbol(s):  T.TLRY

Tilray Brands, Inc. is a global lifestyle and consumer packaged goods company. The Company operates through four segments: Cannabis operations, Distribution business, Beverage alcohol business and Wellness business. The Cannabis operations, which encompasses the production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis. The Beverage alcohol operations, which encompasses the production, marketing and sale of beverage alcohol products. The Distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers. The Wellness products, which encompasses hemp foods and cannabidiol (CBD) products. The Company offers a portfolio of adult-use brands and products and expands its portfolio to include new cannabis products and formats. Its brands include Good Supply, RIFF, Broken Coast, Solei, Canaca, HEXO, Redecan, Original Stash, Hop Valley, Revolver, Bake Sale, XMG, Mollo, and others.


NDAQ:TLRY - Post by User

Post by Keeleron Feb 26, 2024 6:34am
449 Views
Post# 35898508

For those who don’t read the second page

For those who don’t read the second page
Post by Keeleron Feb 26, 2024 5:41am
147 Views 
Post# 35898474

So much for those valuable NYC stores -

the landlord is shutting Medmen down for not paying rent. 

Maybe Tikray could pay it with their FCF and a couple of kegs of beer.

 

MedMen Accused of Stiffing Landlord for $2M in Back Rent

 
BUZZKILL
A photo of a MedMen customer carrying a red MedMen shopping bag.

Lucy Nicholson/Reuters

 

 

It didn’t seem like things could get much worse for MedMen, the onetime cannabis industry “unicorn” that rode a $3 billion valuation in 2018 all the way down to a present-day stock price of $0.

But the beleaguered company—which has seemingly collapsed in slow-motion—now owes nearly $2 million in back rent to billionaire New York real estate mogul Jack Cayre, who finally ran out of patience on Thursday, according to a default notice obtained by The Daily Beast.

“Please be advised that Tenant is in default of its obligations under the Lease and we hereby demand payment in the amount $1,870,499.52 by not later than February 21, 2024 for fixed rent and additional rent owed under the Lease in accordance with the attached statement,” it reads. “The undersigned may avail itself of all rights and remedies it has under law or equity, including, without limitation, terminating the Lease, and/or filing the applicable Confessed Judgments, copies of which are annexed hereto.”

On Feb. 22, lawyers for Midtown Equities, which is owned by the Cayre family, filed the default notice in New York State Supreme Court, demanding the money.


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