Circle8 Group's Lyneer unit faces lender default notices and threatened asset sale
An 8-K filed on 23 October 2026 shows Circle8 Group Inc's Lyneer subsidiaries received default notices from a payroll provider and a lender, and a separate notice that a senior secured lender intends to sell Lyneer's assets from 27 October 2026.
Written and published automatically by the Loro Intelligence Engine from public records. No editor reviewed this before publication.
Circle8 Group Inc's 8-K filed on 23 October 2026 discloses that its Lyneer subsidiary received a default notice from Employers Personnel, LLC and that SPP Credit Advisors, LLC issued default notices on 14 October 2026 under a 2025 Financing Agreement and a 2024 Bridge Loan Agreement, while North Mill Capital LLC (SLR Business Credit) notified the company on 15 October 2026 that it intends to sell
- Filing date
- 23 October 2026
- SPP default letter date
- 14 October 2026
- SLR notice date
- 15 October 2026
- Planned Article 9 sale date
- on or after 27 October 2026
- Financing Agreement date
- 29 April 2025
Circle8 Group Inc disclosed in an 8-K filed on 23 October 2026 that its Lyneer subsidiary, Lyneer Staffing Solutions, LLC, received a notice of default from its professional employer organisation, Employers Personnel, LLC, alleging Lyneer was in default of payment obligations under their service agreement. The filing states Lyneer is in discussions with the PEO to address the alleged default.
The same filing discloses that SPP Credit Advisors, LLC notified Circle8 Group Inc and the Lyneer subsidiaries, by letter dated 14 October 2026, that events of default had occurred under the Amended and Restated Loan Agreement dated 29 April 2025 among the Lyneer subsidiaries, IDC Technologies, Inc., SPP and its administrative agent. SPP simultaneously gave notice of default under a Bridge Loan Agreement dated 18 June 2024 between SPP, the Company and other lenders, citing cross events of default tied to the PEO notice. The filing states SPP and the agent have not waived the specified events of default and that the Company is reviewing the matters in view of a Settlement Agreement dated 7 August 2026.
The filing further discloses that on 15 October 2026 the Lyneer subsidiaries received notice from North Mill Capital LLC, doing business as SLR Business Credit, as senior secured lender for Lyneer Staffing Solutions, LLC, that SLR intends to sell substantially all of Lyneer's assets under Article 9 of the Uniform Commercial Code in one or more private sales on or after 27 October 2026. The filing states the Company disputes the validity of this notice.
The filing does not say what amounts are owed under the PEO service agreement, the Financing Agreement or the Bridge Loan Agreement, nor does it state the outcome of the Company's discussions with the PEO or SPP.
SEC EDGAR records show Circle8 Group Inc filed an earlier 8-K on 3 April 2026 that also reported debt acceleration, though the October 2026 filing does not link the two events.
Primary sources
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