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Trulieve Continues Optimization Efforts

Company plans to close California retail location, wind down Massachusetts operations.

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Florida-based Trulieve is taking steps to streamline its operations by closing a retail location in California and winding down its operations in Massachusetts. This decision is part of Trulieve’s ongoing efforts to optimize its business strategy, the company said in a press release on Thursday.

The California retail location closure is aimed at enhancing operational efficiency and reallocating resources to focus on key markets. Trulieve says it remains committed to serving its customers in California through its online platform and delivery services.

“These difficult but necessary measures are part of ongoing efforts to bolster business resilience and our commitment to cash preservation as we continue to focus on our business strategy of going deep in our core markets and jettisoning non-contributive assets,” said CEO, Kim Rivers (a Global Cannabis Times 100 Most Influential In Cannabis winner) . “We remain fully confident in our strategic position and the long term prospects for the industry.”

In Massachusetts, Trulieve has decided to wind down its operations as part of a strategic assessment of its portfolio. This move will allow the company to reallocate resources to markets with greater growth potential and maximize value for shareholders, the company says.

Trulieve says its optimization efforts reflect its commitment to adapt to evolving market dynamics and prioritize long-term success. The company will continue to evaluate its operations to ensure it is well-positioned for sustainable growth and profitability.

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