Selina Facing Insolvency, Looks For Buyers
Selina, a London-based hospitality company targeting millennial and Gen Z travelers looking to “stay, travel and work abroad indefinitely,” said Monday it “no longer has any reasonable prospects of avoiding an insolvency.”
Selina, a London-based hospitality company targeting millennial and Gen Z travelers looking to “stay, travel and work abroad indefinitely,” said Monday it “no longer has any reasonable prospects of avoiding an insolvency.”
The announcement came in a filing with the United States Securities and Exchange Commission by the company that was founded in 2014 and went public in a SPAC deal in October 2022 that valued the company at $1.2 billion.
The SEC filing states the Selina board has appointed administrators that have assumed management of the company and that are exploring options including a sale of “some or all of the operating subsidiaries and other assets of the group.” It also said it expects to be delisted from the Nasdaq.