Parallel stated the layoffs started on July 6 or through the 14-day interval that adopted.
Extra Layoffs:
Workers have been positioned on paid administrative depart starting July 6 and have been anticipated to proceed receiving their common compensation and advantages by way of their respective termination dates with out being required to report back to work.
On the Wimauma facility, affected positions embody cultivation technicians, manufacturing technicians, processing technicians, laboratory employees, packaging staff, and supervisors overseeing extraction and refinement.
Among the many largest teams affected are 43 Manufacturing Technician I staff, 27 cultivation technicians, 12 manufacturing staff leads, and 11 Processing Technician II employees.
On the Lakeland facility, the cuts embody 22 cultivation technicians, 5 cultivation staff leads, and staff working in harvesting, pest administration, environmental providers, analysis and improvement, and facility operations.
Parallel is a multi-state hashish enterprise with operations spanning throughout a number of phases of the trade, from cultivation and manufacturing by way of retail.
The corporate at the moment lists Surterra Wellness as its Florida retail model, working 45 Surterra shops within the state.
In Massachusetts, Parallel operates below the NETA model, and in Texas, below the Goodblend model.
Surterra affords medical marijuana merchandise that embody hashish flower, pre-rolls, vaporizers, edibles, and different cannabinoid merchandise.
The ability closures come as Parallel approaches the doable conclusion of a monetary restructuring that would switch management of sure firm property to its collectors.
Collectors affiliated with SunStream Bancorp, a cannabis-investment three way partnership by which Canadian hashish firm SNDL holds an interest, beforehand offered financing to Parallel.
After Parallel encountered monetary difficulties, these collectors entered right into a strict foreclosures settlement protecting sure property that had been pledged as safety for the debt.
A strict foreclosures is completely different from a standard acquisition.
As a substitute of 1 firm shopping for one other, secured collectors can take management of pledged property to fulfill excellent debt, topic to regulatory approvals and the phrases of the settlement.
The proposed transaction would place sure Parallel operations below the management of an entity fashioned for the good thing about its collectors.
The method started in 2023 and has since cleared a number of main hurdles.
The Florida Division of Well being accepted the switch of Parallel’s hashish license in February 2025, in response to SNDL‘s first-quarter 2026 earnings reviews.
“In December 2025, a settlement was reached resolving the ultimate remaining litigation, and SNDL at the moment expects the strict foreclosures course of to shut in Q3 2026, topic to completion of remaining steps, satisfaction of relevant situations, and any required approvals,” SNDL stated within the earnings launch.
TheStreet reached out to Parallel for details about why the services have been closing and whether or not the choice was linked to the restructuring.
However the firm didn’t reply to a request for remark.
Hashish market grows as operators face strain
Parallel’s cuts come because the broader hashish market continues to increase, at the same time as particular person operators face a troublesome and uneven enterprise surroundings.
Fortune Enterprise Insights valued the worldwide hashish market at $102.72 billion in 2025 and estimates it should develop to $137.67 billion in 2026.
The analysis agency initiatives the market may attain roughly $1.43 trillion by 2034, representing a compound annual progress price (CAGR) of about 34% between 2026 and 2034.
North America accounted for about 83.8% of the worldwide market in 2025, supported by legalization, medical use, and client demand.
However robust projections for the general trade don’t imply each hashish firm is rising on the identical tempo.
Operators nonetheless face pricing competitors, excessive manufacturing prices, various state laws, and federal tax restrictions.
Though the outcomes don’t mirror Parallel’s operations, latest SNDL earnings illustrate the uneven situations going through hashish companies.
Income from SNDL’s personal hashish operations fell 14.2% 12 months over 12 months through the first quarter of 2026, citing softer demand, stock reductions, and modifications within the timing of business-to-business orders.
Parallel continues to function 45 Surterra Wellness places throughout Florida, however the two facility closures symbolize a big discount within the cultivation and manufacturing infrastructure supporting that retail community.
