With a lot of pot shops going up in smoke, city hall needs a new plan for vacant storefronts
The numbers make it clear that, when forecasting the number of people interested in buying weed, the industry was way too high, writes Matt Elliott
Big number: 140, the number of cannabis retail store licenses in Toronto that have been cancelled since marijuana was legalized in 2018.
Nearly six years after Prime Minister Justin Trudeau’s government moved to legalize marijuana, it seems fair to say that it’s gone pretty well. Any concerns about reefer madness haven’t really materialized.
But in Toronto, there have been some obvious downsides. Dozens of them, in fact, on most of the city’s major streets, in the form of pot shop storefronts that sprang up quickly and then, almost as fast, closed due to faltering sales.
According to data from the Alcohol and Gaming Commission of Ontario, there have been 558 retail applications to sell cannabis in Toronto since 2018. Of those, 140 licenses are now listed as cancelled — about 25 per cent.
The numbers make it clear that, when forecasting the number of people interested in buying weed, the industry was way too high.
And a bunch of other pot storefronts will soon get snuffed out too. Last week, Tokyo Smoke, one of the larger chain retailers of weed, announced they would shut down 29 stores across Canada as they seek creditor protection. License data says they have more than 20 stores in Toronto alone.
Jack’s Note: By now it is abundantly clear that if Justin Trudeau thinks something is a good idea IT SHOULD BE AVOIDED LIKE THE PLAGUE!!!
