California-based marijuana operator Unrivaled Brands, a subsidiary of legacy-era cannabis company Blüm Holdings, filed for Chapter 11 bankruptcy protections, court records show.
The Monday filing represents the latest twist in a yearslong struggle between Unrivaled and one of its investors, Santa Ana-based People’s California, which Unrivaled accused in a Tuesday news release of “implacable … activist litigation” and a bizarre pattern of conduct, including stealing company signage and parking spaces.
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The feud between People’s and Unrivaled began in July 2022, when People’s – which manufactures distillate cartridges – filed a lawsuit against Unrivaled alleging breach of contract, according to Tuesday’s release.
Unrivaled’s financial issues
At that time, Unrivaled was deep underwater – with nearly double the liabilities it had in assets – and
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