MedMen, California’s ‘Apple Store Of Weed,’ Is On The Verge Of Collapse

The company has over $137 million more in debt than assets

MedMen was the hottest cannabis store in California when the state’s recreational pot market opened in 2018.

The retail chain called itself the “Apple Store of weed” and national media outlets, from Esquire to Vanity Fair, hailed this California pot company as the upscale future of legal pot. Before long, MedMen had opened locations in seven states and even expanded to Manhattan. 

But now MedMen’s empire is on the verge of financial failure.

The company has over $137 million more in debt than assets with only $15 million of cash on hand, according to a financial disclosure released last week. MedMen said in its disclosure that there was “substantial doubt” as to whether it can pay its bills for the next year.

To Read The Rest Of This Article On SF Gate, Click Here

Stay up-to-date!

Get all the news and info straight into your inbox that you need to help grow your business.

Marijuana Retail Report, is a national daily online trade publication serving retailers of marijuana products and accessories. News and information are geared strictly to select retail channels, with distribution limited to licensed collectives, recreational retailers, accessories retailers, and wholesalers.


Stay informed with the most up-to-date industry news to help you grow your business: subscribe to our newsletter below!

To Top