Cannabis Company Closes Two Facilities, Lays Off 211 Employees
Parallel, a multi-state cannabis operator behind Surterra Wellness in Florida, is closing two cultivation and production facilities in Wimauma and Lakeland. The closures result in the loss of 211 jobs across roles such as technicians, supervisors, and support staff. Affected employees were placed on paid administrative leave starting July 6 and will continue to receive compensation through their termination dates. The layoffs are part of a broader restructuring effort by Parallel amid financial difficulties. The company is nearing the completion of a strict foreclosure process involving creditors affiliated with SunStream Bancorp, which could transfer control of certain assets to its lenders. This move reflects ongoing challenges in the cannabis industry as companies adjust operations and scale back infrastructure. Parallel operates 45 Surterra Wellness stores across Florida and has other retail brands like NETA in Massachusetts and Goodblend in Texas.