Amid investor freeze, Lowell plans to restructure

After failing to find a buyer, the parent of venerable California brand Lowell Smokes announced a proposed restructuring and debt settlement plan this week.

Departing Chairman George Allen told WeedWeek that even with business improving investor fatigue is "so extensive, we are hard pressed to find sources of capital that haven't completely capitulated."

He described the proposed deal, expected to close this month, as, "shuffling around . . .