AYR Wellness’ Massachusetts Exit Includes 4 Dispensaries, 157 Layoffs | Where to buy Skittles Moonrock online
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Multistate cannabis operator AYR Wellness notified Massachusetts officials on July 31 that it will be laying off 157 workers as the company plans to close four dispensaries in the state by September.
AYR owns an adult-use retail facility in Boston, a medical-only store in Needham, and hybrid facilities in Somerville and Watertown. The stores in Boston and Watertown are branded AYR dispensaries, while the stores in Needham and Somerville are under the Sira Natural Inc. name. AYR also operates a cultivation and manufacturing facility in Milford, Mass.
WARN) in Massachusetts a day after announcing a nationwide restructuring agreement to sell and/or wind down its assets in eight states.
recently awarded medical cannabis license in Virginia.
The company’s move to sell off its assets is part of a restructuring support agreement (RSA) with its lenders.
“Today marks a major milestone for AYR and the restructuring of its obligations, having agreed to a pathway to reduce its debt and seek to maximize value for all stakeholders,” AYR Interim CEO Scott Davido said in the company’s July 30 restructuring announcement. “We look forward to continuing to work closely with our lenders as we execute the next steps in our restructuring plan as defined by the RSA.”
notices, which also list the end of September as the company’s expected date to terminate employees affected by the workforce reduction.
WARN notices in the other states that AYR operates in either aren’t required to be filed based on workforce numbers, haven’t yet been filed, or aren’t yet publicly available.
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