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MedMen’s spectacular collapse is complete: the onetime legal cannabis darling has declared bankruptcy.

BusinessArticle30 Apr, 2024

MedMen’s spectacular collapse is complete: the onetime legal cannabis darling has declared bankruptcy.

MedMen’s spectacular collapse is complete: Just six years after earning a whopping $3 billion valuation, the onetime legal cannabis darling has declared bankruptcy.

Six years after an IPO that saw its valuation peak at over $3 billion, cannabis retailer MedMen is worth next to nothing. Its bankruptcy petition, filed in California court late on Friday, is the nail in the coffin for what’s been a stunning fall from grace for a company whose troubles speak to broader challenges in the legal cannabis industry.

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April 29, 2024 at 12:26 PM PDT

Image Credit:

Former MedMen CEO, Adam Bierman at the 2018 opening of the company's Venice Beach retail location.
Rich Polk: Getty Images / MedMen Enterprises

Source : Fortune

Link to original : MedMen’s spectacular collapse is complete: Just six years after earning a whopping $3 billion valuation, the onetime legal cannabis darling has declared bankruptcy.

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