CLOSURE: Tokyo Smoke is closing down 29 locations across Canada

High-end cannabis retailer Tokyo Smoke is officially closing down almost 30 of their locations in Canada.

The business is restructuring and a press release says that they have “obtained an Initial Order (the ‘Initial Order’) under the Companies’ Creditors Arrangement Act (the ‘CCAA’) from the Ontario Superior Court of Justice.”

Tokyo Smoke still operates around 167 locations in Ontario, Manitoba, Saskatchewan and Newfoundland and Labrador. Those locations will continue to operate as normal, including their online business and High Roller loyalty club program.

The restructuring is happening so that Tokyo Smoke can align their business with current market and regulatory conditions, which have changed greatly since initial licensing was introduced, as Tokyo Smoke was founded in 2015.

The first Tokyo Smoke store was opened in Toronto, and the brand was founded with a mission of changing public perception surrounding cannabis and helping buyers make well-informed decisions about their use. Tokyo Smoke expanded to Calgary in 2017, and now employs more than 500 people across the country.

Tokyo Smoke is officially closing 29 of their retail locations.