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BOSTON (WBZ NewsRadio) — A marijuana dispensary with several locations in Massachusetts is winding down operations across the state.
Trulieve Cannabis Corporation announced on Thursday it will be shutting down all of its Massachusetts locations and its local manufacturing plant to preserve cash and improve the company's financial performance.
“Over the past year, Trulieve has worked to streamline and optimize operations across the organization focusing on markets with long-term growth potential. Some of this work includes closing select retail locations in California, exiting Nevada and reducing production to match consumer demand across multiple markets," a spokesperson for Trulieve told WBZ NewsRadio.
Trulieve said it will be shutting down all three dispensaries in Massachusetts located in Framingham, Northampton, and Worcester, and its manufacturing plant in Holyoke. All three locations are set to close on June 30, 2023. Trulieve also said that it expects to cease all operations in Massachusetts by the end of the year.
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"These difficult but necessary measures are part of ongoing efforts to bolster business resilience and our commitment to cash preservation as we continue to focus on our business strategy of going deep in our core markets and jettisoning non-contributive assets," said Kim Rivers, chief executive officer. "We remain fully confident in our strategic position and the long term prospects for the industry."
The closing of Trulieve's location in Grover Beach, California in addition to closing its operations in Massachusetts will affect 128 employees.
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