Aleafia Health Inc ALEAF

Aurora Polaris site being shut down

[sthinei]

300,000 sq ft location that they finished building in late 2019. Less than 2 years later shutting it down. Terrible management and indication of how much overcapacity there is out there. Happy to see that is shutting down but these guys must be close to defaulting on some of their debt. More big write offs on the way. I wish they would just close up shop and disappear but financial firms will milk it by allowing them to further dilute shares or lend money at high rates and insiders will take it and keep paying themselves big salaries for companies going down the toilet. https://finance.yahoo.com/amphtml/news/canadas-aurora-cannabis-shut-down-215404000.html

[Toweringmars]

I mean, it could be looked at as an oversupply problem. Or the fact that they have (had) a plethora of facilities doing essentially the same things. Rather than one central hub, they do manufacturing at Aurora Sky, Aurora River, and until now Aurora Polaris. Polaris grew medical, Aurora Sky grew rec, and Aurora river. Then shipping amongs the sites to manufacture, then distribute is just a mess