A chain of seven Denver marijuana retail stores plans to close all its dispensaries because of a sharp decline in sales volume.
Buddy Boy suffered a loss in revenue under a new state law that drastically reduced purchase limits for medical marijuana sales, which totaled about 90% of the retailer’s revenue, according to the Denver alt-weekly Westword.
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Changes to regulations reduced the amount of MMJ concentrate that patients could buy from 40 grams to 8 grams.
The company, founded in 2014, operated seven dispensaries in the city.
Buddy Boy owner John Fritzel also owns Lightshade, a chain of 11 stores as well as a cultivation arm. He told Westword he plans to keep those open.
Medical marijuana sales in Colorado are down by 43% in the first four months of 2022 compared to the same span in 2021, Westword noted.
According to the state’s Department of Revenue, wholesale
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