At least 57 licensed cannabis companies in Los Angeles are poised to lose business permits by the end of the year with no obvious way to get the licenses reinstated. The licensees in question – which appear to be a mixture of retailers, distributors, and perhaps other business types – represent roughly 14% of the 418 marijuana business permits issued to date by the city, according to the L.A. Department of Cannabis Regulation (DCR). Although the City Council has a motion pending to give the 57 companies a lifeline, the council is in recess until Jan. 8, 2021. The situation has many business owners “frantic,” said Jerred Kiloh, president of the L.A.-based United Cannabis Business Association (UCBA). Currently, it’s unclear if the Council would be able to act in time to save the businesses. However, the Council motion itself warns that all of the companies might be forced “out of business” next month.
Marijuana Business Daily, 12/21/2020 14:13:00
Open article: https://mjbizdaily.com/nearly-60-los-angeles-cannabis-businesses-poised-to-lose-licenses-on-jan-1-2021/