Large Cannabis MSO Ayr in Trouble, Scaling Back Operations - Heady NJ

This article by Heady NJ examines the shutdown of major cannabis operator Ayr Wellness across multiple legal cannabis states, including rumors about their New Jersey cultivation operations.

The multi-state operator Ayr Wellness is closing down various operations due to substantial debt reaching hundreds of millions of dollars. The company has already shut dispensaries in Massachusetts and Illinois while dismissing closure rumors about their Connecticut operations. In New Jersey, sources suggest Ayr is ending cultivation activities, though the company maintains partnerships with local brands like Mudd Brothers.

• Ayr previously acquired Garden State Dispensary, one of New Jersey's first medical cannabis dispensaries
• The company faces significant financial challenges with plummeting stock prices and hundreds of millions in debt
• Industry observers view MSO closures as either market troubles or consequences of mismanagement by inexperienced operators
• Cannabis legalization continues gaining bipartisan support despite corporate struggles in the regulated market