4Front Ventures Corp., a minor marijuana multistate operator, said its subsidiaries have filed for voluntary receivership in Massachusetts.
The move is in response to substantial balance-sheet liabilities and a shortage of operational financing, the company’s board chair, Kris Krane, said in a Thursday news release.
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Though headquartered in Phoenix, 4Front has operations in three other states, according to the company website:
Massachusetts: Two Mission Dispensaries outlets, three cultivation facilities and three manufacturing plants. Illinois: Three Mission stores, two cultivation sites and two manufacturing plants. Washington: A manufacturing plant.
“The 4Front Board made this decision only as a last resort,” Krane said in a statement.
“While we believe 4Front’s cultivation and manufacturing operations are standouts and its retail stores have found
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