Ocho Candy, Inc. Executes Assignment for the Benefit of Creditors, Initiates Sale of Intellectual Property & Proprietary Recipes

LOS ANGELES--(BUSINESS WIRE)--On February 8, 2024, 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 [phone] or [e-mail] with a copy to Matthew Sorenson at [e-mail].

About DSI

Development Specialists, Inc. (DSI) is one of the leading providers of management consulting and financial advisory services, including turnaround consulting, financial restructuring, litigation support, fiduciary services and forensic accounting. Our clients include business owners, private-equity investors, corporate boards, financial institutions, secured lenders, bondholders and unsecured creditors. For almost 48 years, DSI has been guided by a single objective: maximizing value for all stakeholders. With our highly skilled and diverse team of professionals, offices in the U.S. and international affiliates and an unparalleled range of experience, DSI has built a solid reputation as an industry leader.