4Front Ventures Corp., a cannabis operator based in Phoenix, announced on May 22, 2025, that all its subsidiaries in the United States have filed for voluntary receivership in Massachusetts. This legal step aims to facilitate an orderly liquidation process under the supervision of the Superior Court for Suffolk County.
The company plans to maintain operations during this receivership. Board Chairman Kris Krane explained that the decision was made after exhausting other financial options. While he believes the cultivation and manufacturing sectors of 4Front are performing well and its retail locations are engaging customers effectively, the company faces significant liabilities and a lack of financing, necessitating this action.
Krane stated, “The Board gave careful consideration to the duties owed to all stakeholders… [and] determined that it was in the best interests of the company and its stakeholders to voluntarily request a receivership.”
4Front also highlighted that the lack of filed audited financial statements for the year ending December 31, 2024, led to a cease trade order from the Ontario Securities Commission, restricting its common stock trading in Canada. This filing issue, along with the receivership, is expected to result in the company being delisted from both the Canadian Securities Exchange and the OTCQB.
Further details regarding the receivership process will be available once a receiver is appointed. The legal firm Foley Hoag LLP is representing 4Front in this matter.
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