Los Angeles, April 4, 2024–(BUSINESS WIRE)–On February 8, 2024, Ocho Candy, Inc. (“Ocho” or the “Company”), a Delaware corporation, made a general assignment for the benefit of its creditors (the “Assignment”). was executed on February 8, 2024. Subject to applicable provisions of California law providing for general assignments for the benefit of creditors, in favor of Ocho ABC, a Delaware Series limited liability company (the “Assignee”).
Pursuant to this assignment, the Company transferred all of its ownership interest in the Company and all rights to the Company’s tangible and intangible assets to the transferee for purposes of liquidation. Assignee will, as appropriate, liquidate such assets and rights, wind up the Company and distribute the net proceeds to creditors of the Company who timely file claims in accordance with the instructions below.
The company is an organic chocolate confectionery company that operated out of Oakland, California, before outsourcing its manufacturing operations in 2021. Due to the coronavirus pandemic, the company remained unprofitable with no clear path to profitability in sight. In early 2024, Ocho took the decision to permanently cease operations for the benefit of creditors and concluded a transfer.
The Assignee has begun the process of marketing and selling its intellectual property, which includes the Company’s proprietary recipes described below.
milk chocolate recipe
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caramel
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coconut
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caramel & peanuts
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peanut butter & jelly
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peanut butter
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peppermint
dark chocolate recipe
plant based recipes
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classic caramel
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chocolate caramel
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coffee caramel
All inquiries should be directed to Development Specialists, Inc., the Assignee’s representative.
Please contact Matthew Sorenson (msorenson@dsiconsulting.com) with a copy at Tom Frey (312) 263-4141 or tfrey@dsiconsulting.com.
About DSI
Development Specialists, Inc. (DSI) is one of the leading providers of management consulting and financial advisory services, including turnaround consulting, financial restructuring, litigation support, fiduciary services, and forensic accounting. Our clients include business owners, private equity investors, corporate boards, financial institutions, secured lenders, corporate debt holders, and unsecured creditors. For almost 48 years, DSI has been guided by his one goal: maximizing value for all stakeholders. DSI has built a strong reputation as an industry leader with a diverse team of highly skilled professionals, affiliated offices in the U.S. and abroad, and an unparalleled breadth of experience.
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contact address
Media Contact: Mark Fleming, mfleming@dsiconsulting.com
