Cannabis dispensary in downtown Palm Springs closing down and to be replaced by a country-western bar | Cannabis Law Report | Where to order Skittles Moonrock online

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This little vignette sums up the Californian cannabis sector and the US in general at the moment.

After nearly four years in business, a marijuana dispensary in downtown Palm Springs that was once called one of the largest in the world has closed.

The Four Twenty Bank shut down at the end of May, with owner Julie Montante citing competition with the black market as part of the reason. She hopes to renegotiate her lease and convert her business into a country western bar that would open in October.

“I’m actually retiring because I was the original ‘OG’ in the industry and I’ve been in it for 30 years,” she said. “It’s time to move on to something else.”

The closure of the Four Twenty Bank presents a challenge for a busy section of downtown Palm Springs. Its building, a former bank on South Palm Canyon Drive, had been vacant for 23 years before the dispensary moved in. The building reportedly underwent more than $1 million in renovations to enable the new business.

But now, that era has come to an end, and the site faces an uncertain future. Montante said she might open her bar in a smaller venue if lease negotiations did not go well. She noted utilities and rent had combined to cost tens of thousands of dollars in monthly expenses.

“It’s a very large building, with a large lease and large electricity bills,” she added. “Nowadays, with the government taking over and everything that’s going on in the world, I don’t think people are spending a lot of money.”

The closure comes at a difficult time for the cannabis industry. Business owners have complained for years that legal dispensaries operate at a disadvantage because illegal dealers don’t face taxation and regulation.

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