Cannabis Retailer Tokyo Smoke To Close 29 Stores In Canada As It Seeks Creditor Protection
Portfolio Pulse from Maureen Meehan
Tokyo Smoke, a cannabis retailer previously owned by Canopy Growth Corp, is closing 29 stores in Canada as it seeks creditor protection under the CCAA. The company aims to restructure and align with current market conditions while continuing operations at 167 locations.
August 28, 2024 | 10:27 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Canopy Growth Corp, the former owner of Tokyo Smoke, may see indirect impacts from the restructuring of Tokyo Smoke, which is closing 29 stores in Canada. This move reflects challenges in the cannabis retail market.
While Canopy Growth Corp no longer owns Tokyo Smoke, the restructuring and store closures highlight challenges in the cannabis retail sector, which could indirectly affect market perception of CGC.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50