'There's just no money coming in': Cannabis sector bracing for wave of insolvencies in 2020
Oversupply, declining prices, and a slow rollout of stores in Ontario has led to consecutive quarters of weak revenue for many licensed producers
Cannabis industry insiders are bracing for a slew of bankruptcies in the coming year as small and medium-sized companies low on cash struggle to raise funds in the downtrodden sector.
“We have had a busy few years, but next year we’re going to be busy for a different reason — we expect a few million dollars in legal fees from insolvencies and consolidation,” said Ranjeev Dhillon, a partner at McCarthy Tetrault LLP and the firm’s cannabis group lead.-- More...
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