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Ontario Cannabis Retailer Superette Files For Bankruptcy

Baystreet.ca

Ontario cannabis retailer Superette has filed for bankruptcy protection from its creditors.

The company has been granted court protection from creditors under the Companies' Creditors Arrangement Act.

Accounting firm PricewaterhouseCoopers has been appointed by the court to oversee Superette’s financial restructuring under bankruptcy protection.

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Superette operates six retail cannabis stores in Toronto and Ottawa. The company employed 57 people at the time of its bankruptcy filing.

Superette is the latest in a string of Canadian cannabis companies that have filed for bankruptcy protection or gone out of business this year as the market consolidates.