MJ Biz
Colorado-based marijuana operator Green Dragon is calling it quits.
The company notified the Colorado Department of Labor and Employment last week that it plans to lay off all 59 employees at the 92,000-square-foot grow facility in Denver it’s shuttering by the end of the year.
Green Dragon said it plans to close all 17 of its retail locations in Colorado by then, too, Cory Azzalino, CEO of Green Dragon’s parent company, Eaze, told Denver-based BusinessDen.
The company also intends to close a 400,000-square-foot medical marijuana grow in Florida and 39 dispensaries in that state.
Green Dragon and California-based Eaze, which purchased Green Dragon about three years ago, recently were acquired by a group involving billionaire Jim Clark, founder of the defunct tech firm Netscape.
Clark foreclosed on Eaze in May after the delivery company defaulted on a 2022 loan of $36.9 million.
Then, in August, Clark’s holding company, FoundersJT acquired all of Eaze’s assets in an auction for $56 million.
Green Dragon’s former owners – Lisa Leder, Andrew Levine and Alex Levine – filed a lawsuit in July 2023 alleging that Eaze defrauded investors, was “close to insolvency” and was operating unlawfully.
The case was dismissed a few months later, according to BusinessDen.
Lots more hypercapitalism bullshit here
https://mjbizdaily.com/marijuana-operator-green-dragon-to-cease-operations-by-year-end/
