Much-hyped cannabis store permanently closes Toronto locations due to oversaturation
A chain of cannabis stores has closed three of its Toronto stores within just 11 days this past month and isn't planning on opening any new ones here as the business owner plans to exit the market here.
The brand also has stores in British Columbia and Alberta, and still has some stores operating here in Toronto. As many staff as possible have been relocated to other Dutch Love stores.
"When Ontario chose the license lottery allocation format in 2019 we, and other retail brands, entered into license and service agreements with lottery winners to support the operation of their businesses with our brand and management team," Donnelly Group chief growth officer Harrison Stoker tells blogTO.
"The Toronto market was particularly attractive for these business owners due to its metropolitan population density which inevitably led to saturation."
"There's certainly no shortage of legal cannabis in Toronto today," says Stoker. "Combined with challenges from the pandemic and a desire for some changes, one of our licensees, the business owner, has decided to exit the Toronto market."
The Yonge and Dundas location of Dutch Love shut down on Feb. 9, the Leslieville location closed on Feb. 12, and the Entertainment District location closed on Feb. 20.
Staff were given two to three weeks notice about the closures and the vacant spaces are being marketed for lease or purchase.
While Toronto may not be getting any more locations of Dutch Love (not that we really need them), the brand is planning on opening a new location in Brampton next month.
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