RE:RE:NB Canabis stores lose 11.7 M 1st year operation.go_for_broke wrote: Because the business model is ridiculous! They build a bunch of fancy new stores that you would expect to buy jewelry in, they already laid off a bunch of people and of course they had product shortages, basically sold out within 2 days and no restock until following week.
Agree. I am in NB and I live within a good Tiger Woods tee shot from my deck to a NB cannabis store.I am not sure what the braintrust in NB Cannabis were thinking when right out of the gate they decided to build a number of free standing buildings and invest tens of millions of dollars in structures that as you mentioned, look more like a place to buy fine jewellery, than weed. They did manage to renovate a few buildings for retail stores rather than build, but for the most part basically went full steam ahead with new construction, incurring huge debt to do it.....burnt through all their inventory within a couple of days, and are just starting to get back to some semblance of a normal inventory....as a result of the lack of inventories , you are correct..there were layoffs..I suspect that going forward we are going to see it privatized. We have a minority government in power here and the current premier Blaine Higgs is under pressure already over the financial losses incurred to date and has already came out and said that they will not allow this to continue.. quite sure that we will be privatized sooner than later...and that would be the best case scenario anyway...everything governments get involved with and try and run on their own, they usually end up screwing up