A North American cannabis company has announced it is closing its 20 Michigan dispensaries and all four of its cultivation and processing facilities in the state.

In a WARN notice filed with the Michigan Department of Labor and Economic Opportunity, TerrAscend Corp. announced that it would lay off 236 employees, ceasing all operations in the state.

The company currently operates the following dispensaries in the state, all of which will close:

• Cookies: Ann Arbor, Detroit, Jackson, Kalamazoo and Oxford.
• Gage: Adrian, Battle Creek, Burton, Detroit, Ferndale, Grand Rapids, Kalamazoo, Lansing and Traverse City.
• Lemonnade: Centerline.
• Pinnacle Emporium: Addison, Buchanan, Camden, Edmore and Morenci.

The company is also closing two cultivation and processing facilities in Harrison Township and one each in Bay City and Warren.

TerrAscend Corp. announced the pending closures and layoffs on Monday, June 30, the same day it filed the WARN Notice. Company officials stated in a news release they intended to sell all of company assets in the state to pay down existing debt.

“Michigan is an extremely difficult market and we have come to the realization that our resources can be better utilized in our other markets,” Jason Wild, the company’s executive chairman said in a statement. “This move will unlock value for TerrAscend and its shareholders.

“By concentrating our efforts and resources in the company’s core northeastern U.S. markets — New Jersey, Maryland, Pennsylvania and Ohio — I am confident that we are now positioned to deliver stronger financial performance including improved margins and operational efficiencies.”

The company will continue to operate 19 dispensaries and four cultivation and processing facilities spread across those four states, as well as in California and Toronto, Ontario, the release states.

As of June 30, the company employed about 1,200 employees, including those in Michigan. That number is anticipated to be reduced by 21% by the end of the third quarter, company officials stated.