Another embattled Michigan cannabis company is likely going to end up in the hands of its lenders.

Jackson-based Comco LLC, doing business as Comco Wellness, is being put on the auction block by a court-ordered receiver after nine months in Jackson County Circuit Court.

Most of the cannabis company’s assets are set to be sold to a stalking horse bidder, a new entity called Bag Boys LLC.

The stalking horse bidder is an affiliate of Farm Marcellus, a cannabis grower 30 miles southwest of Kalamazoo with four Class C grow licenses.

Read more at: www.crainsdetroit.com