Massachusetts cannabis businesses are giving up their licenses at a higher rate than ever.
Through May 19 of this year, 23 marijuana operators surrendered or allowed their licenses to expire, according to state Cannabis Control Commission data cited by the Boston Business Journal.
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Four of the licenses were for retail marijuana stores. That’s the same number of stores who let their permits lapse during all of 2024.
With economic uncertainty and increased competition both in Massachusetts and from marijuana businesses in neighboring states, experts’ predictions that 2025 would see more business closures are coming to fruition.
“I think that this year is going to potentially be one of those years where we see a lot of businesses close,” Ryan Dominguez, executive director
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