Cannabis shake-out continues in Canada

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Financial challenges continue to stalk the commercial marijuana industry in Canada. The latest is The Flowr Corp.,  which recently filed for creditor protection in Ontario court proceedings under the federal Companies’ Creditors Arrangement Act.  As part of these proceedings, Flowr was granted new “debtor-in-possession” financing from a company backed by Kelowna-based Avant Brands.

As reported here in July three causes have been cited for the industry’s current difficulties: restrictions on business arising from the COVID-19 pandemic; oversaturation in the cannabis retail market; and loss-leading on the part of some competitors.

Suppliers dealing with such troubled businesses need proactive, informed advice to keep one step ahead.

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