Compliance Risk Management, Due Diligence, & Distressed Assets in the Cannabis Space
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With the emergence of many areas of the U.S. economy from Covid-19, some businesses will find the impact of business interruption/disruption has been too much to absorb. It is expected that some businesses will fail, and the commercial real estate market may experience a "fire sale" of assets.
The Cannabis industry does not appear insulated from this pressure. Further, based on the establishment of many cannabis businesses in enterprise zones, or in some cases, without complete due diligence performed when business was initiated, potential exists for a number of distressed assets or distressed operations entering the marketplace that could result in the necessity for environmental, health and safety (EH&S) due diligence prior to sale and/or EH&S compliance work post-sale.