A large group of California cannabis companies have formed a coalition to raise awareness and provide solutions to mitigate a credit crisis that has threatened to upend the local marijuana industry.
Dozens of cannabis brands, wholesalers and producers Tuesday launched Financial Stability for California Cannabis (FSCC) as part of an ongoing effort to confront the complex debt problems facing the world’s largest regulated marijuana market.
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“Collections and outstanding debt related to unpaid invoices are key challenges facing cannabis operators of all types across the state, from cultivators to manufacturers, vertical brands to wholesalers, and everyone in between,” Vince Ning, founder and co-CEO of California cannabis distributor Nabis, said in a press release.
FSCC aims to create a more holistic and collective plan to address the debt crisis across the supply chain, rather than individual, operator-led initiatives that have tried to reign in one of the industry’s
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