California’s marijuana industry was once considered a leader in legalization. However, it is currently facing financial difficulties, as an increasing number businesses are being placed into receivership. High taxes, regulatory complexity and a glut of cannabis are making it hard for many businesses to remain afloat on the largest legal marijuana market in the country.
Receivership occurs when a judge appoints an independent third-party to manage the assets of a failing company, often to protect creditor rights and ease debt repayment. This situation is more prevalent in the cannabis industry due to problems with cash flow and inability to obtain traditional financing. Due to U.S. federal regulations, many businesses are struggling with falling wholesale prices, high compliance costs, and limited banking services.
In the year 2024, many cannabis giants found themselves in receivership. Cannabis Business Group Inc. represented many of the large receivership opportunities with hires from receivers. The asset sale of the cannabis brand was included. HIGH TIMEGreen Life submitted more than 35 offers to purchase the assets. High Times’ sale was the first of many receivership sales that would follow.
Green Life was hired again by the receiver in 2025 in order to complete the largest cannabis sale ever. Statehouse Holdings – a major industry giant – listed their California assets. This included real-estate, micro business, reputable turnkey cannabis dispensaries and some well-known brands. Green Life’s marketing campaign resulted in more than 70 bids from all over the industry.
Companies like Lemonnade, which listed an Antioch dispensary for sale in receivership receiverships in 2024, attracted interest from small operators who wanted to benefit from the fresh start that a business in receivership offers.
Juva Life will also enter receivership at the start of 2025. This includes a 765-light cannabis cultivation facility, including real estate as well as a dispensary. Once again groups are eager to offer their services. The deadline to submit offers for this call for proposals is February 14, 2019.
Green Life Business Group, despite all of the negativity surrounding cannabis and the repeated chants about the end times, has produced results that are above expectations for assets under receivership. Green Life Business Group is currently operating more than 200 exclusive cannabis licenses, businesses and transactions.
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