Cannabis operator Green Dragon said it will shut down its entire cannabis operation in Colorado and Florida.
The company, which previously merged with troubled cannabis delivery company Eaze, said it will close its 92,000-square-foot grow facility in Denver and lay off all 59 employees by the end of the year. Eaze CEO Cory Azzalino told BusinessDen that Green Dragon’s 17 retail locations in Colorado along with its Florida grow facility and retail shops will also close by then.
Green Dragon’s imminent closure comes after Azzalino earlier this month said Eaze is also shutting down after the company’s assets were sold at auction in August. The company shared its plans to dissolve ahead of what could be a months-long process for transferring its assets. Before the full closure expected on Dec. 31, 2024, Azzalino said Eaze expects to provide employees with an update on next steps around Nov. 15, 2024.
“We want to express our deepest gratitude for your hard work, dedication, and loyalty through your tenure at Stachs LLC,” he wrote in a letter to employees. “Your contributions have been invaluable.”
Jim Araby, a vice president at United Food Commercial Workers International Union, told SFGate the closure will impact nearly 500 employees.
