According to a report by the Swiss media outlet Kleine Zeitung, Koch & Gesell, a cannabis cigarette company based in St. Gallen, has filed for bankruptcy, signifying the closure of the Swiss CBD and tobacco brand, Heimat. The company has suggested the possibility of relaunching its cannabis business. Additionally, the subsidiary in Austria has not been affected by the bankruptcy.
The primary reasons for the bankruptcy are the company's cash flow troubles and the loss of its tobacco license. Roger Koch, the founder and CEO of the company, explained to reporters that this was due to a decline in revenue, poor cash flow status, and the inability to find new sources of funding.
The company has a subsidiary in Austria and has launched a tobacco brand called "Tschick". However, according to the company's business director Reinhard Leitner, this subsidiary has not been affected by the bankruptcy of the Swiss company.
In regards to the company's next steps for development, Roger Koch suggested that one potential option may be to entirely shift the focus of their operations towards the more lucrative cannabis industry. This could involve prioritizing products such as cannabis-infused iced tea. Koch emphasized, "We possess a wealth of expertise, experience, formulations, and a global registered patent.
This tobacco company was established in 2015 and primarily focuses on producing locally sourced tobacco in Switzerland. In 2017, they successfully developed the world's first legal marijuana-infused tobacco cigarettes, gaining significant popularity in the market. In 2019, the company also launched industrially produced pure CBD marijuana cigarettes, for which they have already submitted a patent application for the production technology.
However, in 2019, due to investments in research and development, equipment purchases, and market expansion, the company faced financial difficulties and applied for bankruptcy protection. Although it managed to avoid bankruptcy in 2020, it is now unable to withstand the pressure and has ultimately filed for bankruptcy.
Notice
1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.
2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.
3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.
Copyright
This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com
AI Assistance Disclaimer
This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.
This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.
