Troubled marijuana MSO Ayr Wellness to close cultivation facilities in 2 states

Multistate marijuana operator Ayr Wellness will close cultivation facilities and lay off workers in two states as part of the major sell-off of assets announced last week, state records show.

More than 200 cultivation workers in Massachusetts and Nevada appear to be the first to lose their jobs in the coming months as Miami-based Ayr struggles under the weight of crushing debt, according to filings.

Ayr will close a 217,800-square foot cannabis cultivation operation in Milford, Mass., where it currently employs 157 workers, the Worcester Business Journal first reported.

Ayr informed state officials on July 31 that the workers could be laid off Sept. 29.

Under federal law, employers with more than 100 employees are required to give both workers and government officials 60 days’ notice of “significant layoffs.”

Ayr informed officials in Nevada of two closures in that state on July 30, records show.

Ayr is in the process of selling off or winding down assets in eight states as part of a restructuring agreement announced last week.

The company had $358 million in debt maturing in 2026, according to filings.

In its most recent earnings statements, Ayr reported losing $161 million 2024 on revenue of $463.6 million.

The company reported operating 97 stores across the U.S. and last year won the last vertically integrated MMJ permit available in Virginia.

Earlier this year, Ayr opened the first MMJ dispensary in Miami.

Ayr also reported construction was underway at a 98,000-square-foot cultivation facility in Florida that was expected to start generating revenue in the second half of 2025.

There were no layoff filings on record in other states such as New Jersey and Florida as of Tuesday.