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Cannabis producer Canopy Growth shuts down 2 B.C. facilities, leaving hundreds out of work

Canopy Growth has closed large greenhouses in Delta and Aldergrove, B.C.

The cannabis company says the closures have resulted in the elimination of approximately 500 positions.

In addition to the closures in B.C., the company says it no longer plans to open a third greenhouse in Niagara-on-the-Lake, Ontario.

Canopy Growth CEO David Klein said in a statement that a review by the company found that the B.C. facilities are “no longer essential to its cultivation footprint.”

“Nearly 17 months after the creation of the legal adult-use market, the Canadian recreational market has developed slower than anticipated, creating working capital and profitability challenges across the industry,” Klein said.

Read More here: globalnews.ca/news/6630628/cannabis-producer-canopy-growth-shutter-facilities/
BY JON AZPIRI GLOBAL NEWS

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