The Cannabist Company, the multistate operator once known as Columbia Care, is leaving New Jersey. Its two cultivation and manufacturing plants in Vineland are scheduled to close on October 11, 2026, and its three New Jersey dispensaries are being sold to rival Vireo Growth. The exit is one piece of a court-supervised breakup of a company that, until recently, ran dozens of stores across the East Coast, including in New York.
What is closing in Vineland, and when
According to a WARN notice filed with New Jersey's labor department and reported by NJBIZ, the closures at 17 W. Park Ave. and 1560 N. West Blvd. in Vineland will eliminate 86 jobs, nearly all of Cannabist's New Jersey cultivation and production workforce. The Philadelphia Inquirer noted that Cannabist's Vineland store was among the first in New Jersey to begin adult-use sales in 2022.
New Jersey was not a small market for the company. NJBIZ reported that Cannabist generated about $43.5 million in New Jersey revenue in 2025, roughly 16% of its total. The company has blamed competition from illicit sellers, more licensed competitors than it expected in some states, limited access to banking, and the federal 280E tax rule, which bars cannabis businesses from deducting ordinary expenses.
The Vireo deal is bigger than New Jersey
The three New Jersey stores, in Deptford, Vineland, and Mays Landing, are part of a larger purchase. Vireo announced on July 20, 2026, that it would buy Cannabist assets in five states: Colorado, Illinois, Massachusetts, New Jersey, and West Virginia, for total consideration of up to $35 million, according to the company's announcement as carried by Stockwatch. That price is made up of up to $18.75 million in cash at closing and up to $16.25 million in seller notes, covering up to 25 dispensaries plus one cultivation site and one production facility.
The deal needs a sale approval order from the Canadian court overseeing Cannabist's insolvency, plus sign-off from cannabis regulators in each state. Vireo said closings would happen in stages through 2026 and into 2027. Vireo CEO John Mazarakis described the purchase as part of a "disciplined and strategic approach to industry consolidation."
From Columbia Care to court protection
Cannabist did not collapse overnight. The company reported a net loss of $105.1 million for 2024, per NJBIZ, and the Inquirer reported it owed lenders and the IRS more than $270 million. On March 24, 2026, the parent company and a Canadian subsidiary started proceedings under Canada's Companies' Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice, with backing from holders of more than 60% of its senior secured notes, according to Insolvency Insider.
On May 9, 2026, Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware recognized the Canadian case under Chapter 15, over an objection from lender East West Bank, as summarized by Morrison Foerster. Lawyers have called it the first time a U.S. bankruptcy court has granted full Chapter 15 recognition to a cannabis company, a notable step because plant-touching businesses have generally been shut out of U.S. bankruptcy protection.
Earlier steps in the breakup included agreements to sell its Ohio subsidiaries to Holistic Industries and its Delaware business to Parma Holdco.
The New York connection
For New York readers, the most important line in Cannabist's March filing was not about New Jersey. The company said it would use the CCAA case to support "an orderly wind-down of operations in markets including New York and Pennsylvania," according to its March 24 announcement.
As Columbia Care, the company was one of the original operators in New York's medical marijuana program, which began sales in 2016. Its footprint here had already been shrinking: its East 14th Street medical dispensary in Manhattan, the borough's first, closed in May 2024, EV Grieve reported, and the Office of Cannabis Management told RiverheadLOCAL that its Riverhead location closed temporarily at the end of 2025 because the licensee could not stay at that site.
The broader lesson applies to New York's adult-use market too. Falling prices, high compliance costs, and the 280E tax burden are squeezing operators across the region, a dynamic we break down in our look at price compression and what it means for New York. Assets rarely vanish in these breakups; they move to buyers with stronger balance sheets, which is how consolidation tends to arrive after a market's first few years. Our coverage of cannabis stocks in 2026 tracks which operators are on the buying side.
Update: October 2026
As of October 9, 2026, the Vineland closures remain set for October 11, per the WARN notice. The court monitor's case website shows the Ontario court extended Cannabist's stay of proceedings on September 28, 2026, to March 31, 2027, giving the company more time to finish asset sales and wind-downs. We found no public confirmation yet that the New Jersey store sale to Vireo has closed; it still needs New Jersey regulatory approval, and Vireo's own timeline runs into 2027. We also could not find a public, detailed schedule for the New York wind-down, and we will update this story when the company, the court monitor, or the Office of Cannabis Management confirms what happens to its remaining New York operations.
New York medical patients who use a Cannabist or Columbia Care location should confirm hours and status before visiting and can check licensed options through the state's dispensary verification list. For adults 21+ and certified patients.