Are Colorado’s Biggest Marijuana Chains Burning Out?

In less than one month, three of Colorado’s largest cannabis chains have downsized or shown signs of financial struggle, including buyouts, layoffs, vendor lawsuits and closures.

The latest round of bad news for business came on March 20, when PharmaCann Inc., the Chicago-based corporation that owns LivWell Enlightened Health, announced it would lay off 132 employees as it closes a major Denver cultivation and processing facility in May. This came weeks after Colorado dispensary chain Native Roots announced it was selling off the majority of its assets, including at least seventeen of its 21 stores — but not any of its major grow facilities — to Verdant Capital Partners, an equity firm co-founded by Josh Ginsberg, one of the Native Roots owners.

LivWell and Native Roots currently have 21 stores each, tied for the most in Colorado, although the future is cloudy for Native Roots stores and production facilities that weren’t included in the deal. Many LivWell dispensary employees have been wondering about their job status as well.

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