Green Dragon Shuts Down: Layoffs, Lawsuits And Financial Woes
Colorado-based marijuana operator Green Dragon has announced plans to cease operations by the end of 2024, closing all of its facilities in Colorado and Florida. The company notified the Colorado Department of Labor and Employment that it would lay off all 59 employees at its 92,000-square-foot Denver cultivation site and shutter all 17 of its retail locations in the state, as confirmed by Cory Azzalino, CEO of Green Dragon’s parent company, Eaze.
As MJBiz Daily reported, this shutdown extends beyond Colorado. Green Dragon is also planning to close a substantial 400,000-square-foot medical marijuana cultivation facility and 39 dispensaries across Florida. These closures come amid a series of financial challenges and shifting ownership that have impacted the company’s operations.
Ownership Shifts And Financial Struggles
Green Dragon, along with …