MedMen’s Bierman Tells MJ Biz, I Should Have Sacked People Earlier.
Yes the language is dressed up in corporate speak when he says, “My biggest mistake of the last 12 months was not going through this restructuring sooner, and the market will tell you that, and the market has told us that for the last six months.” We notice he still has a job while 300 others don’t. To get an idea where his thinking is here’s an excerpt. It’s a combination of two things. I think that on the macro perspective, the environment in the industry in U.S. cannabis has shifted over the last six months, from hypergrowth to capital stewardship and profitability. We’re outside of our hypergrowth stage, and we’re really just about hunkering down and continuing to deliver the experience while improving numbers and getting to profitability. We should have done this six months ago. The writing was on the wall that this was where things were heading, and this was what the markets were starting to want to see, and we didn’t react quickly enough. I don’t think there’s any doubt that in the hypergrowth stage in the industry, we were as aggressive as we could have been building the premier brand and the pre-eminent footprint in…
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Source : CANNANNEW REPORT
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