The Cannabist Co. on Monday announced a restructuring plan expected to save the marijuana multistate operator $10 million in annual operational expenses.
The cost-cutting initiatives, according to a news release, include:
Divesting all assets and licenses in Florida. Closing an underperforming retail store in Trinidad, Colorado. Shuttering two stores in New York and reducing operational hours at two of its medical marijuana dispensaries in the state.
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“As we have made clear since the beginning of 2024, under new leadership, The Cannabist Company will look very different by the end of this year in terms of our operational footprint, overhead expenses and de-risked financial profile,” CEO David Hart said in a statement.
“Our focus is on building a better business, positioned for
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