Mass Dispensary Closings in Michigan Hit Battle Creek and Kalamazoo

The company also announced plans to close its four cultivation and processing facilities in the state.

Does this mean the cannabis bubble has finally burst in Michigan?

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According to RenTech Digital there are close to 1,100 recreational cannabis dispensaries licensed across the state of Michigan. Is there such thing as too much of a good thing?

I can't help but to draw comparisons between Michigan's craft beer industry and the current state of cannabis. Per Crain's Grand Rapids there were 510 brewery permits held in the state of Michigan at the peak of its popularity, ranking us 4th in the nation when it comes to states with the most breweries.

Today that number is closer to 400 breweries dropping us to the #8 spot. I'm actually surprised Michigan isn't ranked lower because it seems like every month I learn of a new brewery closing, such as Brite Eyes Brewing in Kalamazoo or Eternity Brewing in Howell, Michigan.

With dispensaries on every corner, is cannabis facing the same market saturation as craft beer did?

A new report from MLive shared that cannabis firm TerrAscend Corp. is closing all 20 of its Michigan dispensaries leaving 236 employees without work:

TerrAscend Corp. announced the pending closures and layoffs on Monday, June 30, the same day it filed the WARN Notice. Company officials stated in a news release they intended to sell all of the company assets in the state to pay down existing debt.

Of the 20 shops several are located in West Michigan including Gage in Kalamazoo-- which it feels like they barely just put the finishing touches on that location! Locations slated for closure include:

• Cookies: Ann Arbor, Detroit, Jackson, Kalamazoo and Oxford.
• Gage: Adrian, Battle Creek, Burton, Detroit, Ferndale, Grand Rapids, Kalamazoo, Lansing and Traverse City.
• Lemonnade: Centerline.
• Pinnacle Emporium: Addison, Buchanan, Camden, Edmore and Morenci.