New York-based vape company The Blinc Group Inc. filed for Chapter 7 in a New York bankruptcy court. According to the petition filed by The Blinc Group Inc., at least one million dollars in debts were listed. The form was signed by CEO Arnaud dumas de Rauly on 14 March.
According to the creditors listed in the document, the company does not appear to have paid its taxes or suppliers. It also appears that it hasn’t paid media companies, public relations agencies, or even the media.
Blinc is a vaping company, even though a cannabis plant-touching company can’t file for Chapter 7 bankruptcy. In Chapter 7 bankruptcy, a trustee attempts to liquidate company assets in order to repay debtors.
Blinc sells products to 11 different states, as well as China. Last month, the company released TUUN – its 2 milliliters all-in one with variable voltage.
List of Creditors includes big names from the Cannabis Industry as well as other companies.
- 7Thirty Fund LLC
- Arcview Collective Fund
- Arizona Department of Revenue
- Equitas Partners Fund
- Etain Health
- Florida Department of Revenue
- Georgia Department of Revenue
- GoDaddy
- Hubspot
- Illinois Department of Revenue
- U.S. Internal Revenue Service
- Michael Zaitsev
- Meltwater News
- Michigan Department of Treasury
- Microsoft
- New Jersey Department of Taxation
- New York Department of Taxation
- NisonCo
- Ohio Department of Taxation
- Oregon Department of Revenue
- Panther Opportunity Fund
- Politico
- WGD Opportunity Fund
The company also lists several Chinese firms as its creditors.
2311000-2311748-blinc group petition