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Once high-flying cannabis company MedMen has filed for bankruptcy, according to multiple reports.

The company owes $411 million in debt and has filed for bankruptcy in both Canada and California, reports say.

Once valued at about $3 billion, the company has experienced a string of embarrassments this year, including the ouster of its CEO and executive chairman after the company’s value fell to nothing and the closure of all but two of its stores in Southern California.

“MedMen has been ‘DeadMen’ to most investors for a long time,” cannabis industry analyst Alan Brochstein told Fortune magazine. “The world should have seen this coming, but not everybody did.”

The company’s website continues to say it’s down for scheduled maintenance.

“We’ll be back soon,” the site promises.

In a statement reported by MarketWatch, however, the future looked less promising.

“The operations and assets of MedMen’s subsidiaries will be dissolved or liquidated pursuant to applicable laws in the U.S.,” the company said.