Green Dragon, a multi-state cannabis producer with 17 locations in Colorado and 39 in Florida, is shutting down after a series of financial issues.
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Following the acquisition of its partner company Eaze by Netscape co-founder James Clark, Eaze announced it would cease operations due to foreclosure and challenging market conditions.
WARN notices filed by Green Dragon indicate layoffs impacting 172 employees across Colorado and Florida, with operations set to close by December 31.
Declining cannabis sales in Colorado also factored into the decision.
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