On February 8, Ocho Candy, Inc., a Delaware Corporation (“Ocho” or the “Company”), executed a General Assignment for the Benefit of Creditors (the “Assignment”) in favor of Ocho ABC, a Delaware Series limited liability company (the “Assignee”) in accordance with the applicable provisions of California law governing General Assignments for the Benefit of Creditors.
Pursuant to the Assignment, the Company transferred to the Assignee for liquidation all of the Company’s ownership of, and all of its rights to and in, the Company’s tangible and intangible assets. The Assignee will, as appropriate, liquidate any such assets and rights, wind down the Company, and distribute any net proceeds to creditors of the Company that timely submit claims as instructed below.
The Company was an organic chocolate confection manufacturer that operated out of Oakland, California until 2021 when it outsourced its manufacturing operations. Due to the COVID-19 pandemic, the company continued to be unprofitable, with no clear path to profitability. In early 2024, Ocho made the decision to shut down operations permanently and entered into the Assignment for the benefit of creditors.
The Assignee has begun the process of marketing and selling off the intellectual property including the Company’s proprietary recipes as listed below:
Milk Chocolate Recipes
- Caramel
- Coconut
- Caramel & Peanut
- Peanut Butter & Jelly
- Peanut Butter
- Peppermint
Dark Chocolate Recipes
- Peanut Butter
- Coconut
Plant Based Recipes
- Classic Caramel
- Chocolate Caramel
- Coffee Caramel
- Cinnamon Caramel
All inquiries should be directed to representatives of the Assignee, Development Specialists, Inc.. Please contact Tom Frey at (312) 263-4141 or tfrey@dsiconsulting.com with a copy to Matthew Sorenson at msorenson@dsiconsulting.com.
