As California's cannabis market expanded after legalization, several leading companies seemed poised for dominance. However, due to mismanagement, regulatory pressures and market saturation, many of these giants have collapsed. Here's a closer look at the industry's most notable failures.
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MedMen: From Unicorn To Bankruptcy
MedMen, once celebrated as the “Apple Store of Weed,” reached a $2 billion valuation. However, rapid expansion, failed acquisitions, and leadership turnover created financial turmoil. By April 2024, MedMen had filed for bankruptcy with $411 million in liabilities.
Eaze: The Uber Of Weed Falls
Eaze, once California's largest cannabis delivery service, defaulted on a $36.9 million loan and was later acquired by billionaire James Henry Clark. Despite the change in ownership, Eaze could not recover from high operating costs, ...
