Will There be More Closures After Michigan’s Biggest Weed Company Shuts Down Four Stores?
Michigan's "Weed Walmart" has downsized its company in a major way.
Lume Cannabis Co., the Michigan-based marijuana company, closed four out of nearly 30 stores across the entire state.
The closed Lume locations include:
- Bay City
The Google business pages for each of the closed locations are relatively different from each other.
Sheilah Earnheart said
"Wonderful customer service experience and great selection/deals daily! We always enjoying visiting Lume!"
R R said
"Best dispensary in town hands down! Bud tender Trenton help me use my points and score 5 primo pre-rolls and the best part only cost 5 cents. cents makes dollars at Lume in Christmas! Eh..."
With reviews like these, I am genuinely surprised this location closed down. Even though Lume has closed several stores, it has still continued to open new locations. One of the new locations is in Ann Arbor at 2247 W. Liberty St, which opened last Friday, July 8th.
View this post on Instagram
A former employee of one of the shutdown stores told a source that they told about their layoffs due to the store permanently closing on Monday.
The employee also shared that the reasoning for Lume's store closures was due to a lack of money and revenue.
Since Lume closed for lack of profit, does that mean Michigan's marijuana sales are tanking?
Rick Thompson, who is the director of the Michigan chapter of the National Organization for Reform of Marijuana Laws (NORML), believes there will be more closures and mergers since prices are falling but competition is increasing.