Weed companies are scrambling to meet an impending deadline to open new pot shops.
The law passed in 2019 that allowed recreational weed sales in Illinois gave the operators of existing medical marijuana stores the option to open an additional store for each license they held. They have until March 31 to receive final inspections from the Illinois Department of Financial & Professional Regulation or lose the licenses, which can be worth $10 million to $20 million. Everyone I work with is pounding nails and painting, says attorney William Bogot, co-chair of Fox Rothschild s cannabis practice group, who represents several marijuana companies. Every client has incentives built into their contracts to get it done. I don t think anyone is going to voluntarily let that (license) pass by.