Courtesy of the Green SolutionIn a public notice dated January 19,, the publicly traded company that owns the Green Solution, announced a"number of initiatives to increase efficiency, decrease expenses and transition to cash flow positive," which included closing one store in California and three stores in Colorado, and cutting approximately one-quarter of its workforce.
Columbia Care owns over ninety dispensaries across eighteen states and jurisdictions, with twenty in Colorado. It owns the Green Solution, a network of sixteen stores after the closures, as well as, another Colorado-founded dispensary chain with four stores in Colorado.
"As Columbia Care continues to grow and evolve, we constantly reassess our operations to objectively determine whether changes are required to drive the business forward. In light of unprecedented inflation and persistent economic headwinds, the current dislocation in the capital markets, and the political and regulatory structures that allow the illicit market to proliferate in some jurisdictions, we have made the decision to restructure targeted areas of our business.
Colorado's commercial marijuana industry didn't experience a dry spell until 2021, when both wholesale prices and dispensary sales started dropping after a record-breaking 2020. But last year was a full-on drought for the state's marijuana industry, with the average price per pound of flowerThe year-plus industry recession has led to a burst of
Terrible flower. Just terrible. And poor mike Tysons line of flower was also a disgrace. sad to see corporate cannabis destroy what I thought was the “apple” store of cannabis. It was 8 years ago.
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