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ARTICLE · 06 JUNE 2025

Restructuring Without The Stigma: Strategic Paths For Cannabis Operators

Miller Thomson
Miller Thomson
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As financial pressures affect cannabis operators across Canada, restructuring and insolvency is becoming an increasingly common topic in boardrooms and legal consultations.

CanadaCannabis & Hemp
Larry Ellis
Larry Ellis
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As financial pressures affect cannabis operators across Canada, restructuring and insolvency is becoming an increasingly common topic in boardrooms and legal consultations. While insolvency can be perceived as a last resort, the reality is more nuanced. For cannabis businesses facing tax debt, licensing constraints, or liquidity crises, formal restructuring proceedings may provide a critical path to recovery.

This article outlines key legal frameworks, practical considerations, and strategic options available to operators navigating restructuring and insolvency in a highly regulated and still-maturing sector.

Understanding cannabis-specific restructuring tools

Restructuring proceedings in Canada can take several forms, including receivership, Notice of Intent (NOI) proposals under Canada's Bankruptcy and Insolvency Act (BIA), or arrangements under the Companies' Creditors Arrangement Act (Canada) (CCAA). For cannabis businesses, the latter options are

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