Marijuana companies face $6 billion in debt coming due next year as profits decline industrywide. Struggling cannabis companies are looking to restructure debt to stay afloat as federal legal hurdles remain seeking protection from creditors via bankruptcy filings. If it were like most companies on the losing end of a boom and bust cycle, Schwazze could just turn to the U.S. … [Read more...] about Cannabis industry faces debt reckoning without bankruptcy help
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Group opposes ‘fire sale’ of troubled cannabis retailer Fire & Flower
Fire & Flower was riding high on Oct. 17, 2018, when legal adult-use cannabis sales began in Canada. (Photo by Kelsey McMillan) A syndicate of parties including the second-largest shareholder of Fire & Flower Holdings Corp. is opposing a proposed stalking-horse agreement between the cannabis retailer and its largest shareholder, an affiliate of convenience store … [Read more...] about Group opposes ‘fire sale’ of troubled cannabis retailer Fire & Flower
Cannabis operator Flower One Holdings closes Canadian restructuring
Flower One Holdings, the former Canadian parent company of Nevada cannabis company Flower One, closed a restructuring deal and implemented a plan of arrangement under the Companies’ Creditors Arrangement Act (CCAA). Toronto-based Flower One Holdings said in a news release it would seek restructuring and that it obtained an initial creditor protection order under the CCAA in … [Read more...] about Cannabis operator Flower One Holdings closes Canadian restructuring
