MICHIGAN, USA — One of the major US cannabis companies announced this week it’s ending its business in Michigan, impacting more than 20 dispensaries across the state. 

TerrAscend Corp, the parent company of multiple brands like Gage, Cookies, State Flower, Valhalla and more, plans to pay down its debt by selling or divesting all of its Michigan operations this year. 

The parent company owns 20 retail dispensaries, including multiple in West Michigan, and four cultivation and processing facilities. 

With this departure from Michigan, TerrAscend said it will focus on operating 19 dispensaries and four cultivation and processing facilities across five states, including New Jersey, Maryland, Pennsylvania, Ohio and California. The company also has business in Canada. 

“After an extensive evaluation, we have made the strategic decision to exit the Michigan market,” Jason Wild, Executive Chairman of TerrAscend said. “Michigan is an extremely difficult market and we have come to the realization that our resources can be better utilized in our other markets. 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.”

It’s about a 21% reduction of its company’s overall workforce, which is about 1,200 employees as of June 30. That means about 240 Michigan workers will be impacted by the exit. 

The company expects this reduction to be complete by the end of September 2025.