Cannabis retail giant Green Growth Brands, which abruptly laid off 870 workers last week and told them that plans to sell part of the business could be delayed “until the world begins to resume normalcy,” is trying to reassure investors and former employees that its transition plans are intact.
The company temporarily shuttered hundreds of mall kiosks selling CBD products last week and told hundreds of employees that it could not pay them, citing “the collapse of the capital markets for cannabis-related businesses.”
However, Green Growth Brands said Monday that its plans to sell the CBD side of the business are still on, though volatile market conditions could delay progress. The kiosks remain closed for now.
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