Canadian cannabis retail evolving, consolidating 5 years after legalization
- Marijuana Business Daily · Sep 19, 2023
Nearly five years after legalizing recreational marijuana at the federal level, Canada is approaching 4,000 regulated cannabis stores spread unevenly across the enormous country, according to data compiled by MJBizDaily.
The latest quarterly store tally comes as Canada’s cannabis retail sector continues to transform.
Some private-sector retailers are failing, such as major retail chain Fire & Flower, which entered creditor protection in June after years of operating at a loss.
Other retail operators, meanwhile, are acquiring: Fika Cannabis successfully bid 36 million Canadian dollars ($26.7 million) for Fire & Flower at a recent auction.
Still other retailers have simply closed their doors altogether, underscoring the tough operating conditions facing retailers.
On top of the cannabis industry’s usual pitfalls, Canadian retailers must confront:
“The whole Fire & Flower story tells us that really, nobody’s safe out there,” said Raj Grover, CEO…