AYR Wellness is exiting Massachusetts, closing all of its facilities in the state and laying off more than 150 employees.
The move is part of a broader restructuring plan under a newly signed Restructuring Support Agreement (RSA) with the company’s senior noteholders, which will see AYR sell off core assets in other states while winding down operations elsewhere.
The company said the restructuring is designed to reduce debt and preserve its remaining operations during the transition. “Today marks a major milestone for AYR and the restructuring of its obligations, having agreed to a pathway to reduce its debt and seek to maximize value for all stakeholders,” said Interim CEO Scott Davido.
For more information:
Ayr Wellness
www.ayrwellness.com
