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Cannabis company shuttering Milford facility, to lay off 150+ employees
The announcement from AYR Wellness came a day after it announced its restructuring plans.
A multi-state cannabis company with multiple locations in Massachusetts will lay off more than 150 employees in the state by late September.
AYR Wellness, which is based in Miami, Florida, and has locations in Boston, Needham, Somerville, and Watertown, filed a Massachusetts Workers Adjustment Restraining notice with the state on Thursday, announcing the intention to lay off 157 employees at the company’s Milford location by Sept. 29.
The company’s entire Milford cultivation facility is closing, according to the Boston Business Journal. The move is part of the cannabis company’s recently announced restructuring plan.
AYR is selling its assets across multiple states and winding down operations, the company said in a press release.
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“Today marks a major milestone for AYR and the restructuring of its obligations, having agreed to a pathway to reduce its debt and seek to maximize value for all stakeholders,” Scott Davido, Interim Chief Executive Officer of AYR, said in a statement on July 30, a day before the company filed the layoff notice in Massachusetts. “We look forward to continuing to work closely with our lenders as we execute the next steps in our restructuring plan as defined by the RSA.”
While AYR has several locations in Massachusetts, the filing with the state only references layoffs at the Milford location.
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