More than half of Arizona’s 26 social equity retail licensees are poised to miss a key deadline to open their cannabis shops by Sunday, Oct. 8.
The group of operators – currently numbering 14 – could face penalties for failing to meet the state-mandated deadline.
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Those sanctions could include having their licenses revoked.
But state regulators have indicated that they won’t go that far and will instead give the dozen or so social equity license holders more time to get their retail businesses up and running.
Arizona is the latest market where social equity license holders and applicants are facing uphill battles to launch their businesses due to a dearth of funding, lawsuits, competition from existing operators and other factors.
Other markets where social equity licensees are experiencing difficulties include Los Angeles, Illinois, Michigan and New York.
Arizona law permits 169 marijuana retail locations, so social equity
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