Troubles seem far from over for bankrupt cannabis operator MedMen, which was recently sued for approximately $70,000 due to unpaid rent at its former Williamsville location, BizJournal reports. According to the publication, MedMen signed a 10-year lease for the Williamsville retail location but failed to make payments. ALS Main and Transit LLC, the company that filed the lawsuit, is seeking thousands of dollars in damages, including legal and court fees.
MedMen's history has been marked by a series of decisions that led the company to bankruptcy. The company expanded too quickly, took on significant debt, and struggled to break even, according to Forbes.
Politico once described MedMen as the "Apple of pot," and in an article, the publication highlighted how the company was poised to capitalize on the nascent cannabis industry. However, just when things appeared ready to take off, the first troubles emerged, starting with a class-action lawsuit filed by employees alleging labor practice violations.
Former CEO Adam Bierman was a controversial figure in MedMen's history. Allegations of misspending for personal reasons—including a much-discussed home in Beverly Hills—as well as accusations of misconduct, brought lawsuits against him from investors, including a former CFO who was countersued by Bierman. As a lawsuit entered the arbitration process, the company's problems persisted, leading to staff layoffs, Bierman's resignation as CEO, and eventually, the company filing for bankruptcy.
However, it seems the MedMen saga is still far from over.