Some are leaving the market entirely. Others are finding creative ways to streamline operations. Most are struggling to stay alive.
Since the first cannabis companies opened in Massachusetts in 2018, owners have been talking about the unique struggles of the state-regulated industry. But only recently have the full effects of those challenges come into focus.
According to data from the Cannabis Control Commission, 16 licenses granted to businesses since 2018 have been surrendered, revoked or haven’t been renewed. In some cases, the businesses closed entirely, although in many cases, businesses hold multiple licenses and have opted to drop one to streamline operations.
However, that list of 16 doesn’t encompass all of the businesses that have closed. For instance, Trulieve announced this past summer it would close all of its Massachusetts operations — including three dispensaries in Framingham, Worcester and Northampton — by June 30. According to the CCC’s data, however, Trulieve’s licenses remain active as of Oct. 17.
Read more at: nbcboston.com