The MedMen cannabis dispensary on Santa Monica Boulevard in West Hollywood has re-opened under new management.
The store closed abruptly in January after reports of financial instability.
Once valued at a staggering $3 billion, MedMen’s valuation had plummeted to zero.
This sharp downturn in the Culver City-based company’s fortunes prompted significant changes in its leadership. CEO Ellen Deutsch Harrison and Executive Chairman Michael Serruya recently stepped down from their positions, according to MarketWatch.
It’s just like back in the 1700s do u remember those little cases that rich pp used to carry around and take a pinch of material and sniff it that was ground up Coco leaf meaning cocaine.
Competition is good for the consumer. Hard to beat the prices and the atmosphere at The Woods a block and a half west of MedMen.
Welcome back. MedMan was always one of the nicer dispensaries and it is in a great location.
The problem is that the cannabis industry suffers a lack of access to the normal banking system. This doesn’t just mean that they have to pay the costs of managing all that cash. They also are completely cut off from any form of credit, have difficulty leasing, and can’t even establish terms with vendors. Those who derive their income from the industry also risk loosing access to the financial system. Look at how those who work, legally, in the adult industry are often treated by our financial system & multiply those issues logarithmically. Ironically, the black market appears to have… Read more »