A chain of Denver marijuana stores that initially said it would be shutting down because of economic conditions was closed early by the city for alleged nonpayment of taxes.
According to Denver alt-weekly Westword, Buddy Boy Brands owed roughly $500,000 in back taxes at the time the company’s seven stores were shut down by the Denver Department of Finance.
Shoppers looking to cash in on going-out-of-business discounts instead saw notices posted by Denver officials saying the stores were closed because of outstanding tax payments.
Josh Rosenblum from the city confirmed for MJBizDaily that regulators saw the Buddy Boy closures in the news, which prompted Denver officials to issue the distraint warrants to either collect the delinquent taxes or seize and sell the property.
The owner of Buddy Boy, John Fritzel, originally told Westword he was shuttering the chain because of a decline in sales volume and new state laws tightening purchase limits for medical marijuana products in Colorado.
He later told Westword he is aware he owes the city money and is working to pay back what he owes.
