U.S. marijuana retail chain MedMen Enterprises Inc. has been offering vendors shares in its company as payment for cannabis products amid a cash crunch in the industry.
In an email reviewed by MarketWatch, MedMen MMEN, -3.70% MMNFF, -4.22% offered a supplier the full value of the amount owed in MedMen class B non-voting shares, a payment plan for the full value or a one-time cash payment of half the outstanding value. MedMen Chief Financial Officer Zeeshan Hyder confirmed that the company, which announced massive layoffs and other changes late last year, is offering to settle some bills with stock.
“As part of the restructuring, the company has been actively working with its retail vendors on modifying payment terms, which in some cases include stock consideration,” he said in an emailed statement.
