The town of Lumby, B.C., is bracing for the potential bankruptcy of True Leaf, a major cannabis company and one of the biggest employers in the North Okanagan community. True Leaf is seeking creditor protection in an effort to avoid bankruptcy just two years after spending $25 million to buy land and build a processing plant in the town just east of Vernon. True Leaf has 40 acres of land in and around Lumby, including an 18,000 square-foot building for growing and processing cannabis. Town trying to keep local business aliveThe latest news from the cannabis producer is another blow, Acton said. Opportunities exist in Lumby's industrial park and True Leaf has plans to subdivide its property, he said.

Source: CBC News October 08, 2020 22:30 UTC