Cannabis Retailer Tokyo Smoke To Close 29 Stores Amid Creditor Protection Proceedings

Cannabis retailer Tokyo Smoke says it will be shuttering 29 of its stores as it seeks creditor protection. The closures are part of a restructuring the brand is carrying out under the Companies’ Creditors Arrangement Act. Tokyo Smoke says the moves are meant to better align its operations with the current cannabis market and regulatory conditions, which the company says have changed “significantly.” Some 167 locations across Ontario, Manitoba, Saskatchewan and Newfoundland and Labrador will…