Koch & Gesell, the world’s first cannabis cigarette brand, filed for bankruptcy

Famous Swiss cigarette company Hanff filed for bankruptcy, resulting in the withdrawal of Swiss CBD and tobacco brand Heimat from the market. The company is considering restarting its marijuana business. The reasons for the bankruptcy were cash flow and the loss of tobacco licenses.

According to Swiss media outlet Kleinezeitung, Koch & Gesell, a cannabis tobacco company based in Steinach in the Canton of St. Gallen, also marked the bankruptcy of Swiss CBD and tobacco brand Heimat. Businesses are suggesting that the marijuana business could restart. In addition, the Austrian subsidiary was not affected by the bankruptcy.

 

The main reasons for the bankruptcy were the company’s cash flow problems and the loss of tobacco licenses. Company founder and CEO RogerKoch (RogerKoch) explained to reporters that this is due to the company’s declining revenue, the cash flow situation is not good, and the inability to find new funding providers caused by.

 

The company set up a subsidiary in Austria and launched the tobacco brand “Tschick”, however, according to Reinhard Leitner, the company’s commercial director. Reinhard Leitner discussed that the subsidiary was not affected by the Swiss bankruptcy.

 

For the company’s next steps, Roger Koch said one possible option would be to convert all of the business into a more profitable cannabis industry, such as focusing on products such as cannabis iced tea. “We have a great deal of expertise, experience, formulations, and a patent that has been registered worldwide.” ‘he said.

 

The cigarette company was founded in 2015 and its main products are Swiss cigarettes. In 2017, they developed the world’s first legal cannabis tobacco, which went viral on the market. In 2019, the company launched an industrially produced pure CBD cannabis tobacco, which has been patented for its production technology.

 

However, in 2019, the company ran into financial difficulties due to investments in R&D, equipment purchases, and market expansion, and filed for bankruptcy protection. I managed to avoid bankruptcy in 2020, but now, once again, I couldn’t take the pressure and finally filed for bankruptcy.