Circle8 Group's Lyneer unit faces lender default notices and planned asset sale
Circle8 Group disclosed that its Lyneer subsidiary received a default notice from its professional employer organization, Employers Personnel, LLC, alleging missed payments under a service agreement. Separately, lender SPP Credit Advisors issued default notices under a financing agreement and a bridge loan, and senior lender SLR said it intends to sell substantially all Lyneer assets on or after October 27, 2026. The company disputes the validity of the asset sale notice and is reviewing the defaults, which could materially affect shareholders given the threatened asset sale.
Key points
- PEO Employers Personnel, LLC alleged Lyneer is in default of payment obligations under its service agreement; discussions are ongoing.
- SPP Credit Advisors letter dated October 14, 2026 asserted events of default under the Financing Agreement dated April 29, 2025 and the Bridge Loan Agreement dated June 18, 2024.
- On October 15, 2026, Lyneer received notice that SLR intends to sell substantially all Lyneer assets under Article 9 of the UCC on or after October 27, 2026.
- The company disputes the validity of the SLR notice and says it is reviewing the purported defaults in light of a Settlement Agreement dated August 7, 2026.
The filing
Written by AI on Nov 9, 2026, 8:38 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2026.
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