StateHouse Holdings Is Up For Grabs To Top Bidder, Either In Whole Or Parts
The bankrupt single-state operator California-based StateHouse Holdings (CSE: STHZ) (OTCQB: STHZF) is formally on the auction block, with its primary creditor reportedly hoping to fetch north of $100 million for the entire company.
StateHouse’s assets were advertised for sale by GreenLife Business Group beginning on Nov. 12, CEO Drew Mathews told Green Market Report, and he said he’s quite confident that the entire portfolio will find buyers, based on the number of inquiries and offers he’s already fielded.
Up for sale are StateHouse’s:
- 11 storefront dispensaries
- A 15-license farm in Salinas
- Seven product brands (Loudpack, Smokiez, Fuzzies, Kingpen, Kingroll, Dime Bag and Sublime)
- Distribution, nursery, processor, microbusiness, event license and manufacturing licenses.
“A deal is definitely going to get done. The question I don’t know the answer to is if somebody’s going to be in that $100 million ballpark to take down the whole thing,” Mathews said. That figure is the target price from creditor Pelorus Fund, which forced StateHouse into a court-ordered receivership and bankruptcy back in September.
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