MedMen Plans To Close 5 Of Their 8 Retail Storefronts
We have learned that MedMen is planning to close down 5 of their 8 Florida dispensaries for the time being. The stores that will be shuttered are located in:
In speaking with various employees working at the aforementioned stores, they characterized the store closures as "temporary", with one employee stating that they will be closed for at least a "couple of months".
One staff member stated MedMen will be laying off all employees currently working at these locations, and that they personally planned to file for unemployment benefits.
The employees were not given a firm timeline from the company about when the stores can expect to be re-opened, and when they, as employees, can expect to be re-hired. Employees were only told that the closures were related to the impact of COVID-19, but were given no specific reasons beyond that.
MedMen's other Florida retail locations - in St. Petersburg, Pensacola, and West Palm Beach - will remain open at this time.
At the time of publishing, shares of MedMen were down 2.7% intraday. Shares of the company are trading down approximately 67% year-to-date.
This is a developing story. Check back for further updates.
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