Marijuana Industry Debt Crisis Intensifies as Lenders Circle Overleveraged Operators

Leaked internal letter shows turmoil in NY cannabis office

New York’s cannabis program has seen its fair share of controversy. Whether combating illicit dispensaries or accusations of regulatory retaliation, the Office of Cannabis Management (OCM) has faced ongoing scrutiny from the industry and the general public. Now, it turns out OCM staff are also calling for change—starting at the top. In a leaked letter shared by Crain’s New York and Cultivated, a group of anonymous staff members urged New York st…

Cannbis Debt Crisis Intensifies as Lenders Circle Overleveraged Operators - Business of Cannabis

As spurred lenders begin to encircle cannabis companies owing an estimated $3 billion in collective debt coming due soon, one overleveraged operator is resorting to what observers say are increasingly creative and desperate methods to protect assets from liquidation. That includes shutting down licensed locations and even moving a pre-roll machine from one location to another in an attempt to elude creditors, according to a lawsuit filed earlier…

Marijuana industry debt crisis intensifies as lenders circle overleveraged operators

As spurred lenders begin to encircle marijuana companies owing an estimated $3 billion in collective debt coming due soon, one overleveraged operator is resorting to what observers say are increasingly creative and desperate methods to protect assets from liquidation. Marijuana industry debt crisis intensifies as lenders circle overleveraged operators is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs