Prominent brand Cookies’ retail marijuana store in Los Angeles plans to close Nov. 7, co-founder and cannabis entrepreneur Berner has announced on social media.
The closure would be at least the second to affect a Cookies-branded outlet in 2023.
A separately owned and managed location in Oklahoma City closed this spring.
California-based Cookies licenses its familiar light-blue branding and proprietary, highly recognizable marijuana strains to separate businesses that hold state licenses around the U.S. and handle day-to-day operations under a franchise model.
But the situation in west Los Angeles – where Cookies Melrose’s landlord is asking for a hefty rent increase, according to people familiar with the situation as well as a publicly available real estate listing – underscores how even the sector’s biggest names are not immune to the cannabis industry’s wider struggles.
In a recent Instagram post, Berner said he “dreaded this day and having to make this announcement.”