SRx Health Solutions' Canadian Subsidiary Seeks Creditor Protection

(RTTNews) - SRx Health Solutions, Inc. (SRXH) announced Tuesday, that its Canadian subsidiary, and certain affiliates have filed for creditor protection under Canada's Companies' Creditors Arrangement Act with the Supreme Court of Ontario.

The move follows a detailed review of SRx Canada's financial position and alternatives, conducted with legal and financial advisors. Under the CCAA proceedings, the company will seek a stay of proceedings and approval for debtor-in-possession financing to provide stability and time to explore restructuring options. These may include a sale of all or substantially all of SRx Canada's business or assets through a court-supervised process.

SRx Canada plans to maintain key business operations during the process. The company emphasized that its U.S. assets, including subsidiary Halo, Purely For Pets, Inc., will not be impacted, and no U.S. bankruptcy proceedings are planned.

SRXH is currently trading at $0.36 down $0.0124 or 3.2692 percent on the New York Stock Exchange.