Herbl, a major marijuana distribution company in California, has fallen into receivership due to a default on a significant loan.
The collapse of Herbl, which handled around $700 million in product sales in 2022, has far-reaching consequences for the industry.
Many brands in the state face the risk of losing millions of dollars in revenue due to unpaid invoices, while the state itself may have millions in unpaid taxes, first reported MJBizDaily.
Herbl's financial troubles highlight the turmoil within California's marijuana industry, as brands struggle to collect on outstanding invoices.
The terms of the receivership prioritize investors and claimants over the brands seeking payment.
Related News
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving—don’t get left behind!
Curious about what’s next for the industry and how to stay ahead in today’s competitive market?
Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.
Secure your spot now before prices go up—this is where the biggest deals and connections happen!
