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Hexo unit files restructuring plan

·1 min read
Hexo unit files restructuring plan
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Hexo Corp. said Friday its Zenabis Global Inc. cannabis cultivation unit has filed a petition with the Superior Court of Québec for protection under the Companies' Creditors Arrangement Act (CCAA) to restructure its business. Ernst & Young Inc. has been appointed as monitor to oversee the CCAA process. Hexo said the CCAA petition is limited to the Zenabis Group only and not for any of its other subsidiaries or parent company. Earlier this week Hexo said in a filing it'll reduce its workforce by