Pelorus Fund REIT Seeks To Force StateHouse Holdings Into Receivership
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 27 2024
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Source: Benzinga
Pelorus Fund's Legal Action: Pelorus Fund REIT, LLC has filed a complaint in California's Superior Court to appoint a receiver for StateHouse Holdings Inc. after the company defaulted on four loans, aiming to protect its operations and stakeholders during restructuring.
StateHouse's Financial Performance: Despite facing financial challenges, StateHouse reported a 10% revenue increase year-over-year for Q2 2024, reaching $27.8 million, while also launching 24 new products that contributed to 15% of its sales for the year.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
