Selina Hospitality Faces Default and Potential Delisting

Selina Hospitality (SLNA) has released an update.

Selina Hospitality PLC is grappling with severe liquidity issues, having defaulted on a $455,250.38 interest payment due to Inter-American Investment Corporation, which could lead to acceleration of their $44.1 million debt and trigger cross-defaults. The company’s attempts to secure additional funding have failed, and without new investments, they face potential insolvency and asset sales. Furthermore, non-compliance with Nasdaq’s filing requirements is likely to result in the delisting of their securities, although trading may continue in over-the-counter markets.

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