A Jersey cannabis testing laboratory established during the flurry of interest around medicinal cannabis has gone bust due to a "lack of investor confidence" and "low demand for cannabis testing."
Jersey Pharm Labs, which operated as a licensed cannabis testing and genetic analysis laboratory in the Channel Islands, has ceased trading – with creditors set to meet later this month and the company's assets due to be seized.
In a statement, a spokesperson for Jersey Pharm Labs said: "The business closed due to a lack of investor confidence and low demand for cannabis testing in Jersey, making it unsustainable for a full-time lab."
A meeting of creditors is scheduled for 19 May at 12.15pm at 4 Wharf Street, while a notice published in the Jersey Gazette also said that all moveable assets of the company are to be seized, with the date to be confirmed.
Read more at The Jersey Evening Post