Tokyo Smoke Begins Stalking Horse Sales Process Amid Restructuring

The Canadian cannabis retailer seeks creditor protection and plans to close 29 stores as it navigates market challenges.

Tokyo Smoke's parent company, TS Investments Corp., has valued the business at $77 million in the stalking horse bid.
The company entered creditor protection last month to better manage changing market and regulatory conditions.
Tokyo Smoke will close 29 stores but continue operating approximately 167 locations across four provinces.
The two-phase sales process includes a deadline for non-binding letters of interest by October 21, 2024, and binding agreements by November 11, 2024.
OEG Retail Cannabis, owned by the Edmonton Oilers' owner, acquired Tokyo Smoke from Canopy Growth Corp. in 2022.