Green Valley Files For Bankruptcy
Top 100 operation reorganizes and plans for the future.
March 23, 2009
Green Valley Growers, Willis, Texas, has filed for Chapter 11 reorganization protection. The move comes after a bank did not renew Green Valley's line of credit on March 6.
"We fully intent to use this period to reorganize and are continuing operations," says Jim Hessler, Green Valley president. "We are selling, shipping, planting and planning for the future."
Hessler says he has spoken with major customers and suppliers to inform them of the situation.
"In terms of the impact our customers should see, it should be business as usual," he says. "Behind the scenes, of course, there's a tremendous amount of additional work that everyone is going to be doing to be sure that we can satisfy the court and take great care of our customers."
Green Valley Growers is No. 59 on the Top 100 Growers list. Read more about Green Valley Growers here.