A record number of cannabis stores in Canada might have closed or changed hands in 2023, according to new data from regulators in the three largest Canadian marijuana markets.
The data paints a picture of a viciously competitive retail landscape in some parts of the country, while other areas appear to remain in a steady build-out phase.
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MJBizDaily asked regulators for data about cannabis retail license cancellations and new licenses issued in Alberta, British Columbia and Ontario, which together account for nearly 75% of regulated marijuana sales in Canada.
The number of cannabis retail licenses that were canceled or not renewed in Alberta during 2023 exceed the number of new store licenses issued – the first time this has happened in the province
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