An unusual number of cannabis companies have used a Canadian corporate insolvency law called the Companies’ Creditors Arrangement Act (CCAA) in 2022, a trend that demonstrates both the marijuana industry’s financial challenges and one possible solution to keep businesses from slipping completely underwater.
Fourteen of the 35 CCAA filings in Canada – or 40% – between Jan. 1 and Dec. 22 have involved companies operating in the cannabis space in one way or another:
Eve & Co. and related companies. Choom Holdings and related companies. MJardin Group, GrowForce Holdings and related companies. Zenabis Global and related companies. Sproutly and Toronto Herbal Remedies. MPX International Corp. and related companies. Speakeasy Cannabis Club. Medipure Pharmaceuticals and Medipure Holdings. Superette and related companies. Flower One Holdings and related companies. The Flowr Corp. CannaPiece Group. Trichome Financial Corp. and related companies. Lightbox Enterprises (Dutch Love Cannabis).
ADVERTISEMENT
“Going back a
Read full article on Marijuana Business Daily
