Media Report: Herbl collapses, brands left unpaid, sources say

MJ Biz reports

Herbl, a major licensed California marijuana distribution company, is in receivership after falling behind on a key loan, a source close to the situation confirmed to MJBizDaily on Tuesday.

The collapse of Herbl – which reportedly handled $700 million worth of product sales in 2022 – is the most prominent failure of a cannabis company in the state to date and has major implications across the industry.

Potentially tens of millions of dollars in unpaid invoices are due to brands across the state, which now fear that that revenue, including for product already sold, is lost forever.

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