In the first several months of 2025, 23 cannabis businesses in Massachusetts have surrendered or let their licenses expire, according to data from the Cannabis Control Commission obtained by the Business Journal.
Four of those 23 were retail licenses, which is the same number of retail licenses that became non-active during the entirety of last year. It continues a trend of cannabis businesses surrendering their licenses at an increasing rate– prior to last year, only five retail licenses had ever been surrendered.
At the start of the year, experts projected that 2025 would bring even more business closures, a prediction that appears to be ringing true. Cannabis businesses have been facing headwinds as the industry matures. In addition to the broad economic turbulence impacting small businesses, cannabis businesses are confronting increased competition within the state and with neighboring states, and the price of adult-use cannabis has fallen significantly since the market first opened.
The data, which goes through May 19, 2025, captures only businesses that actually opened their doors at some point, and have now surrendered or let their licenses expire. It doesn't include businesses that were granted licenses and never got up and running.
Read more at Boston Business Journal
