Selina Hospitality (SLNA) has released an update.
Selina Hospitality PLC has entered administration, appointing joint administrators from FTI Consulting LLP to manage the company’s affairs after determining it has no prospects of avoiding insolvency. The administrators are considering a sales process for the company’s assets, however, its operating subsidiaries remain under the control of their respective directors and management. Consequently, Selina Hospitality’s securities are expected to be delisted from the Nasdaq as the company cannot meet the exchange’s listing requirements.
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