#USA #Cannabis #Phoenix #4Front Ventures #Receivership

4Front Ventures Update on Receivership and Board Changes

4Front Ventures Corp., a recognized name in the cannabis sector, has recently announced crucial updates regarding its voluntary receivership proceedings affecting its U.S. subsidiaries and major shifts within its Board of Directors.

On May 22, 2025, the subsidiaries of 4Front filed for voluntary receivership in the Commonwealth of Massachusetts, aiming for liquidation under supervision. The case (no. 2584CV01405) was initiated in the Business Litigation Session of the Suffolk County Superior Court. This move indicates a critical moment for the company, as it strives to mitigate financial strain and maximize value for its creditors and stakeholders amidst turbulent market conditions.

As of June 20, 2025, the court appointed Opus Consulting Partners, LLC, and principal Jacques Santucci as the official Receiver for the subsidiaries. Under this appointment, the Receiver has acquired extensive authority to oversee the operations and manage the orderly sale of the subsidiaries to ensure the best outcomes possible. Furthermore, to aid in the process, Stone Blossom Capital LLC, under Richard Ormond's leadership, will also lend its expertise as a senior strategic consultant.

In light of these developments, significant changes within the company’s leadership have emerged. Kris Krane, the Chairman of the Board, and Director David Daily have both submitted their resignations from their positions, effective immediately. Such a shift in leadership indicates a response to the ongoing financial challenges and highlights the need for strategic reinvention.

For stakeholders seeking more insights regarding the receivership, they are encouraged to reach out to the appointed Receiver. In addition, inquiries related to the company's previous assignment under Canada’s Bankruptcy and Insolvency Act can be directed to B. Riley Farber, Inc., the appointed trustee during this restructuring initiative. Notably, the law firm Foley Hoag LLP is providing legal counsel to the company during this challenging period.

About 4Front Ventures Corp.

Established in 2011, 4Front Ventures Corp. has gained recognition as a nationally integrated multi-state cannabis operator with a solid operational presence in Illinois and Massachusetts, bolstered by facilities in Washington state. The company is known for its high-quality cannabis cultivation and low-cost production methods, establishing a robust reputation through its expertise in facility design and operational efficiencies. Over the years, 4Front has successfully introduced more than 20 cannabis brands and over 1,800 product variations, distributed through its owned Mission dispensaries and retail locations across core markets.

In conclusion, while 4Front Ventures navigates a challenging downturn, the latest developments indicate a proactive approach to streamline operations and safeguard stakeholder interests. For further information regarding the receivership or bankruptcy, the relevant companies may be contacted through the provided channels for detailed inquiries.