Connect with us

Industry

Curaleaf Closes Cannabis Cultivation in New Jersey Amid Industry Challenges

Curaleaf Holdings, a Massachusetts-based multistate operator, has announced the closure of its cannabis cultivation facility in Bellmawr, New Jersey. As a result, up to 40 employees could face layoffs. The company’s decision to consolidate marijuana cultivation operations in its Winslow facility is a reflection of the challenges faced by the cannabis industry, including tightening capital markets, compressed wholesale prices, and slowing sales growth.

Curaleaf’s Bellmawr Facility Closure

Curaleaf provided a statement to NJ.com, explaining its decision to cease cultivation in Bellmawr. The company will repurpose the location for other operations, as it consolidates production at the Winslow facility. The Winslow site has the capacity to meet New Jersey’s overall market demand, making it an ideal choice for streamlined operations.

Recent Layoffs in the Cannabis Industry

The cannabis industry has been streamlining operations and laying off hundreds of workers in response to challenging capital markets, compressed wholesale prices, and slowing sales growth in some markets. In November, Curaleaf cut 220 employees in Massachusetts and 50 in California after shuttering its Sacramento cultivation facility in August. The company did not confirm how many jobs would be affected by the Bellmawr facility closure.

Unionization Efforts at Bellmawr

According to NJ.com, workers at the Bellmawr facility were attempting to unionize with the United Food and Commercial Workers Local 360. The union filed a complaint alleging Curaleaf management had interfered with the effort three weeks ago. However, a Curaleaf spokesperson stated that the closure was not related to the union drive.

New Jersey’s Cannabis Cultivation Licenses

New Jersey regulators recently lifted a cap on cultivation licenses in the state, but aspiring growers face headwinds such as high real estate costs and capital challenges. These factors contribute to the difficulties faced by cannabis businesses like Curaleaf, as they navigate the ever-changing landscape of the marijuana industry.

Newsletter Signup

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Sonny Digital explains how black people are being shut out of the legal cannabis industry, being the plug for artists and more

NEWS

Boxer, Floyd Mayweather Jr. and Business Leader Jas Mathur Launch SMILZ

CBD

Meet Ranagade Perrana, Blunt Roller to the Stars

Culture

Oklahoma Bill Limiting Medical Marijuana Licenses Moves To Senate after House approval

Government

Newsletter Signup

Copyright © 2024 Black Cannabis Magazine.

Connect
Newsletter Signup