Cannabis Bankruptcies Start to Roll in as Pandemic Halts Financing

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The weakest companies are succumbing and even relatively healthy firms are showing signs of strain. The cannabis bankruptcy filings are starting to roll in. Already plagued by a tough regulatory environment, disappointing sales and capital markets that had closed to all but the strongest companies, the industry is now facing a pandemic-related collapse in stock markets and ever-shrinking financing options. Pot companies completed two capital raises worth just US$5.6 million the week ended March 27,…

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