The company also announced plans to close its four cultivation and processing facilities in the state.
Does this mean the cannabis bubble has finally burst in Michigan?
According to RenTech Digital there are close to 1,100 recreational cannabis dispensaries licensed across the state of Michigan. Is there such thing as too much of a good thing?
I can’t help but to draw comparisons between Michigan’s craft beer industry and the current state of cannabis. Per Crain’s Grand Rapids there were 510 brewery permits held in the state of Michigan at the peak of its popularity, ranking us 4th in the nation when it comes to states with the most breweries.
Today that number is closer to 400 breweries dropping us to the #8 spot. I’m actually surprised Michigan isn’t ranked lower because it seems like every month I learn of a new brewery closing, such as Brite Eyes Brewing in Kalamazoo or Eternity Brewing in Howell, Michigan…