California cannabis companies hire credit group to monitor retailers over unpaid invoices

A group of California distributors and brands representing more than half the state’s wholesale B2B cannabis market has hired a credit association to rate retailers in the hopes of reducing the hundreds of thousands of dollars in unpaid invoices – and reining in repeat offenders.

The Credit Management Association (CMA), a nonprofit based in suburban Los Angeles, is analyzing accounts receivables and other documents from more than a dozen distributors and brands.

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The CMA plans to email each of the distributors and brands a “do not sell list” of 25 California retailers that don’t pay their bills on time – a seismic problem in the world’s largest cannabis market and across the United States.

The “red” list, according to group members, highlights retailers and delivery providers that owe at least $25,000 for products and are 90 days late or more on payments, often categorized as delinquent.

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A group of California distributors and brands representing more than half the state’s wholesale B2B cannabis market has hired a… Continue reading
The post California cannabis companies hire credit group to monitor retailers over unpaid invoices appeared first on GrowCola.com.