Debra BorchardtNew York-based vape company The Blinc Group Inc. filed for Chapter 7 in a New York bankruptcy court. The company’s petition cited at least $1 million in liabilities. CEO Arnaud Dumas de Rauly signed the form submitted on March 14.
The company appears to have not paid taxes, suppliers, media or public relations firms, based on the list of creditors included in the filing.
While plant-touching cannabis company cannot file for Chapter 7 bankruptcy protection, Blinc describes itself as a vaping technology company. Under Chapter 7, a trustee will attempt to liquidate the assets of the company in order to pay debtors.
Blinc is a private company and sells it products in 11 states as well as China. Last month the company introduced a new product called TUUN, billed as its first 2 milliliter all-in-one with variable voltage and pre-heat on-tap.
The company’s list of creditors includes some big names in the cannabis industry as well as others including:
- 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
In addition, several Chinese companies were listed as creditors to the company.
2311000-2311748-blinc group petition
