Gold Spectrum CBD to lay off 121 employees, move out of state due to new law

Gold Spectrum, one of Tennessee’s largest hemp retailers, announced they are laying off 121 employees and closing seven retail stores. This comes as state legislation, set to go into effect June 30, would ban the sale of about 85% of the company’s products. The company just opened their processing facility 10 months ago. Gold Spectrum said the company will retain about 60 employees and will move out of the state. Gold Spectrum will still offer its products online and ship them back into the state.