Jeff Radway, the chair and CEO of Michigan marijuana retailer and cultivator Skymint, stepped down solely weeks after the financially strapped firm was positioned beneath receivership.
Skymint confirmed the information in an electronic mail to Crain’s Detroit Enterprise.
Workers had been notified by govt vice chairman and common counsel Jeff Donahue on April 7.
Skymint was positioned beneath receivership in March after it was sued by a Canadian funding firm claiming it owed greater than $100 million.
In a concurrent lawsuit, New York funding agency Merida Capital Holdings filed a criticism in Oakland County Circuit Courtroom alleging that Inexperienced Peak misrepresented its monetary standing and was mismanaged, in line with Crain’s.
Crain’s obtained an electronic mail Radway despatched to staff to bid farewell.
“I take with me some unbelievable relationships and a profound respect for what a gifted and devoted group can do when working collectively,” Radway wrote.
“Imagine me, I do know it was by no means straightforward … but it surely was well worth the journey.”