Circle8 receives loan default notice from SPP Credit Advisors
CIRC•SPP Credit Advisors notified Circle8 Group on October 14, 2026, of alleged defaults under two loan agreements, including cross-defaults tied to Employers Personnel’s payment-default notice. Circle8 is reviewing the allegations and continuing discussions with SPP; separately, Lyneer Staffing Solutions disputes a notice from SLR Business Credit that it plans to sell substantially all its assets.
1. Loan and asset sale notices
SPP Credit Advisors notified Circle8 Group on October 14, 2026, of defaults under its June 18, 2024, Bridge Loan Agreement and April 29, 2025, Amended and Restated Loan Agreement, asserting cross-defaults tied to Employers Personnel’s payment-default notice. Circle8 is reviewing the alleged defaults in light of an August 7, 2026, Settlement Agreement, and discussions with SPP continue without further action. On October 15, SLR Business Credit notified Lyneer Staffing Solutions of plans to sell substantially all its assets; private sales could begin October 27, and Lyneer disputes the notice’s validity.
