Marijuana companies face $6 billion in debt coming due next year as profits decline industrywide. Struggling cannabis companies are looking to restructure debt to stay afloat as federal legal hurdles remain seeking protection from creditors via bankruptcy filings.
If it were like most companies on the losing end of a boom and bust cycle, Schwazze could just turn to the U.S. bankruptcy court to keep its creditors at bay while renegotiating its debt. But unlike most businesses, its product — marijuana — is still illegal in the eyes of the federal government.
That disadvantage will make it harder for Schwazze and other cannabis companies to win concessions from lenders…
