The Cookies empire appears on the brink of collapse after a San Francisco judge earlier this month ordered the national cannabis’s main revenue source diverted to settle a $8.4 million judgement, court records show.
Royalties from Cookies-licensed, third-party owned stores in Canada, Israel and Thailand as well as the United States – the lifeblood of the “asset-light” marijuana branding powerhouse Forbes once estimated was worth $250 million – must instead be paid to the company’s erstwhile partner on a failed San Francisco marijuana store, Superior Court Judge Dennis Hayashi ordered Nov. 13.
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The result is “leaving Cookies without operating revenues,” Cookies’ attorney, Robert Finkle, claimed in earlier court filings.
It’s the latest serious headache for the San Francisc0-based brand, still one of cannabis’
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