Cor Cordis appointed Receiver and Manager of Releaf Group Ltd
Releaf Group Limited (trading as Releaf Pets, Releaf Clinics, Clinican, Mull Café & Releaf Clinics and Dispensaries)
o Releaf (Vic) Pty Ltd
o Releaf Clinic St Kilda Pty Ltd
o Releaf Franchising Pty Ltd
o Releaf Wholesale Pty Ltd
o Releaf Dispensaries Pty Ltd
Daniel Juratowitch and Shaun Matthews of restructuring advisory firm Cor Cordis have been appointed Receivers and Managers of Releaf Group Limited and related entities on 29 October 2024.
Releaf Group Ltd is Australia’s leading cannabis franchise group, operating in Australia, New Zealand, and the United Kingdom. The company has a vertically integrated business model with several wholly owned subsidiaries ranging from multidisciplinary clinics, retail and pharmacies, research & development, training & education, wholesale and distribution.
Due to current economic challenges and working capital issues, Receivers and Managers have been appointed to restructure the financial affairs of Releaf Group.
Through the receivership and management process, Cor Cordis is urgently assessing the Releaf Group's business operations and exploring all options to restructure or recapitalise the company. Additionally, Cor Cordis is conducting an urgent expressions of interest campaign and assessing solutions to stabilise the business in the short term.
The Receivers and Managers have commenced an urgent review of Releaf Group’s financial position and set up an email address for customers, employees, and creditors. “We ask customers for their patience as we conduct an urgent sale of business and recapitalisation process for the Releaf Group. We will provide regular updates to all stakeholders as we work through this process.”
If you're a patient of Releaf with a medical emergency, please contact 000.
Media enquiries
Lidia Bufalino, National Marketing Director, lbufalino@corcordis.com.au
Releaf Group enquiries
For further information, the email address is releaf@corcordis.com.au
