- A cannabis firm is closing two cultivation sites in Vineland because of financial losses.
- The closures are to result in the loss of 86 jobs and are scheduled for Oct. 11.
- The parent company has filed for bankruptcy protection, citing industry-wide challenges and significant net losses.
- The firm also plans to sell its three dispensaries in South Jersey, which is its only market in the state.
A cannabis firm plans to close two cultivation sites in Vineland and sell three South Jersey dispensaries in response to mounting losses.
The Cannabist Co. cited "company financial issues" for the Vineland shutdowns, which are to take effect Oct. 11, according to a notice filed with the New Jersey Department of Labor & Workforce Developments. The closings are expected to mean the end of 86 jobs.
These local cutbacks are part of retreat from the U.S. market for a Canadian holding company that has sought protection from creditors in federal bankruptcy court in Delaware.
The Cannabist Co. Holdings Inc. noted its dire condition in a recent court filing, reporting net losses of $105.1 million for 2024 and $124.2 million for the first nine months of 2025.
It said the cannabis industry in the U.S. market "has suffered significant challenges in recent years" because of an oversupply caused by illicit dealers and "an unexpected number of licensed competitors in certain jurisdictions."
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