MJ Biz reports
An unusual number of cannabis companies have used a Canadian corporate insolvency law called the Companies’ Creditors Arrangement Act (CCAA) in 2022, a trend that demonstrates both the marijuana industry’s financial challenges and one possible solution to keep businesses from slipping completely underwater.
Fourteen of the 35 CCAA filings in Canada – or 40% – between Jan. 1 and Dec. 22 have involved companies operating in the cannabis space in one way or another:
- Eve & Co. and related companies.
- Choom Holdings and related companies.
- MJardin Group, GrowForce Holdings and related companies.
- Zenabis Global and related companies.
- Sproutly and Toronto Herbal Remedies.
- MPX International Corp. and related companies.
- Speakeasy Cannabis Club.
- Medipure Pharmaceuticals and Medipure Holdings.
- Superette and related companies.
- Flower One Holdings and related companies.
- The Flowr Corp.
- CannaPiece Group.
- Trichome Financial Corp. and related companies.
- Lightbox Enterprises (Dutch Love Cannabis).
Read the details at
https://mjbizdaily.com/struggling-cannabis-companies-turn-to-canadian-insolvency-law-ccaa/
