Tag: bankruptcy

AeroFarms a global leader in indoor vertical farming, today announced that, after careful consideration by its board, it has filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

Kalera Public Limited Company, a vertical farming company headquartered in Orlando, Florida, announced today that its wholly owned and main operating subsidiary, Kalera, Inc. has filed a voluntary petition in the United States Bankruptcy Court for the Southern District of Texas seeking relief under Chapter 11 of Title 11 of the United States Code.

Trade experience survey data reported on Stonehedge Produce Corporation, previously located in Atlanta, GA, never exceeded more than two trade reports.

In past articles, we typically have studied companies with a more significant tenure and with a well-established footprint. However, there are some produce companies that don’t make it past their first year—as previously mentioned, approximately 20 percent of them.

According to the U.S. Bureau of Labor Statistics, nearly one in five U.S. businesses fail within the first year.

Montreal-based importer-receiver, Fruits Et Legumes Royal, filed an Intention to Make a Proposal under the Bankruptcy & Insolvency Act last week in the Superior Court of Quebec under court number 500-11-061949-232.

Leamington, ON-based greenhouse grower Lakeside Produce Inc. filed for bankruptcy last week, owing $188 million (Canadian) to creditors.

A federal appeals court ruling this summer that allowed a bankrupt Florida grocery store owner to discharge debts owed to a produce supplier has raised questions about the PACA Trust.

So what really happened here? Why did this century-old company close its doors?

In the summer of 2019, H. Brooks and Company, LLC, New Brighton, MN, had entered into a definitive agreement to sell its stock and become a wholly owned subsidiary of New Harvest Foods, Inc.