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Tilray Inc
Symbol TLRY
Shares Issued 446,156,841
Close 2021-09-24 C$ 14.78
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Globe says Aurora, Tilray hit pot holes

2021-09-27 09:09 ET - In the News

See In the News (C-ACB) Aurora Cannabis Inc (2)

The Globe and Mail reports in its Monday edition that job losses and facility closings will persist in the Canadian pot industry for the next few quarters as long as companies struggle to cultivate and retain their customer base, industry analysts believe. The Globe's Vanmala Subramaniam writes that the warnings come ahead of earnings reports from two major players -- Aurora and Tilray -- over the next 10 days. Last week, both companies separately announced they were shutting production facilities and cutting jobs. Edmonton-based Aurora said 8 per cent of its work force will be affected by the coming closing of Aurora Polaris, a 300,000-square-foot grow-operation once touted as the company's "centre of excellence" for "high-margin" production of cannabis derivative products such as edibles. Tilray too, as part of a cost-cutting exercise since its merger this spring with Aphria, is shutting down an indoor grow-op in Nanaimo, B.C., a 60,000-square-foot space that was designed to produce pot primarily for the medical market. "The underlying theme in this whole business has been fierce, unrelenting competition. If ... you don't have the right cost structure, you're going to be road kill," said consultant Chris Damas.

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