MJ Biz reports..
The marijuana distributor, which launched in California in 2015, was an early and vocal advocate for small growers in Humboldt, Mendocino and Trinity counties.
The company also was a major buyer of their Emerald Triangle cannabis.
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Michael Steinmetz – a co-founder, former CEO and current chief servant officer of Flow Cannabis Co. – previously likened the company to household brands such as Sunkist, Uber and Whole Foods Market, which all enlist a model where a centralized entity aggregates and supports small operators while sharing the profits.
“We don’t see large-scale cannabis as the future of cannabis,” Steinmetz told MJBizDaily in 2019.
“We see the model as aggregating all of these small farmers to collectively bring massive amounts of craft cannabis to the market.”
But those lofty goals are no more, and Flow Cannabis Co.’s future is uncertain given layoffs, executive departures and tight funding.
A spokesperson issued a brief statement Monday confirming yet another round of layoffs – at least the company’s fifth since March 2020 – underscoring the business’ precarious financial position:
“Due to the current state of the cannabis market in California, we have decided to implement a reduction in force.”
Read full article. https://mjbizdaily.com/once-lofty-future-of-flow-cannabis-co-and-flow-kana-brand-now-uncertain/
