Maggie’s Farm shuts down five locations across Southern Colorado
EL PASO COUNTY, Colo. (KRDO) - Last week, Maggie's Farm, a prominent medical and recreational marijuana company, announced they would be closing five locations. The decision sparked outrage across social media, and the company extended apologies for the decision to close.
"Thank you for all of your comments and feedback. We are listening intently and understand the depth of hurt, disappointment, and frustration our recent actions have caused. For the disruption and pain, we sincerely apologize."
- Excerpt of Maggie's Farm Statement
The statement goes on to say that the company had faced unforeseen challenges.
KRDO13 spoke to one employee, Faith Wessells, who said that she and her colleagues were notified the store would be closing permanently just thirty minutes before it was set to open that day. Employees were allowed to grab their things, and then the store never opened again.
A statement on the door of the medical dispensary Wessells worked at reads:
"It is with very heavy hearts we must tell you that this location is shut down, effective immediately. We will miss you all greatly. Love, the Canon City Maggie's Farm Crew."
When asked why the company had not informed employees sooner of the closing, the Chief Executive Officer and Founder of Maggie's Farm answered:
"Isn't that what businesses do? When you don't -- when you can't keep a store open until the last minute?" Conkling said in a phone call.
According to industry expert and Executive Director of the Marijuana Industry Group Truman Bradley, Maggie's Farm shutting down could be a symptom of a much larger problem.
"Maggie's Farms closing five locations in Colorado Springs is just one more sad story in what's now a pretty common tale," Truman said.
Truman went on to say that there had been a 40% decline in sales in the medical marijuana industry, followed by a 25% decline in recreational marijuana. He also said that last year, in the state of Colorado, 10,000 jobs had been lost in the industry.
All of that decline has an impact.
"I have bills to pay ... I'm in the process of wondering if I should just wait it out and get my unemployment check ... or just go ahead and find a job," Wessells said.
As a medical marijuana employee, she said that her job was rewarding because it allowed her to help people. Now, she's applying to other dispensaries but said the competition was fierce in her area because of the layoffs.
"I think what's important to remember is that when people think about the cannabis industry, they may have an image in their head that doesn't tie to reality. Cannabis, small business owners, employees, customers, and patients are all around us. They're our neighbors. They're our friends," Truman said.
The cause of this, according to Truman, has to do with extra burdens placed on the dispensaries via taxes and cramping legislation.
"It's important now to look at the over-burdensome regulations and the tax rates because if this is an industry that the state cares about-- and they care about the tax revenue that it provides, they're going to have to make some critical changes," Truman said.
