AYR Wellness, a multi-state cannabis company, will lay off 157 employees at its Milford location in Massachusetts by September 29. The layoffs are part of a broader restructuring plan that includes closing the Milford cultivation facility. AYR is selling its assets across various states and winding down operations to reduce debt. Interim CEO Scott Davido emphasized the importance of this restructuring effort and the company's commitment to working with lenders during this transition.
"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."
AYR Wellness is laying off 157 employees at its Milford location as part of a restructuring plan aimed at reducing debt and winding down operations.
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