MedMen, The $1.7 Billion Apple Store of Weed, Goes Bankrupt Just as Marijuana Gets Rescheduled in America

MedMen declared that they have carefully assessed the company’s and its subsidiaries’ current financial state. This assessment also includes their incapacity to meet financial obligations as they come and the imminent actions by secured creditors. To that end, they’ve reached the challenging decision to cease operations and initiate Bankruptcy Proceedings and Receivership Proceedings.