Jackson & Perkins, Park Seed To Be Auctioned

Jackson & Perkins, Jackson & Perkins Wholesale, Park Seed and Park Seed Wholesale all will be auctioned off August 23, and an initial bid has already been submitted for $7.1 million.

According to The Index-Journal, a newspaper in Greenwood, S.C. (where the George W. Park Seed Co. is located), a Maryland-based private equity firm has revealed it’s behind the initial bid and has said it would keep the company in Greenwood if it should win the auction.

All of the companies were consolidated at the end of July by the U.S. Bankruptcy Court in South Carolina after the trustee in charge of them, L. Stan Neely, requested the move. It was made in part to allow the other companies to transfer enough money to Jackson & Perkins to purchase paper for its holiday catalog. “If JPC (Jackson & Perkins) does not obtain funding for this catalog immediately, the value of the debtors’ estates will be impacted substantially,” according to the court papers.

According to court papers filed in July, the companies had transferred funds between each other before the bankruptcy filing without regard to where the money came from, making it very difficult to identify specific creditors for each of the companies.

The companies spent around $1 million attempting to “untangle” the intercompany transfers and identify creditors. Instead of continuing on that path, Neely petitioned the court to consolidate the companies.

Leave a Reply

2 comments on “Jackson & Perkins, Park Seed To Be Auctioned

  1. Jackson & Perkins and Park Seed are important companies in our industry, especially for those of us who live and work in South Carolina.

    These last few years the economy has been very weak for many growing operations, however it won’t always be this way. To survive we must change, but change is never easy.

    I have been a customer of both the wholesale and retail divisions of both companies. I hope and pray that whomever wins the bid will continue to invest in Jackson & Perkins and Park Seed, bringing innovation and great products to the market.

    May the wonderful people who work for J&P and Park Seed not only survive, but may they ultimately thrive. They have a generous spirit that should be blessed.

  2. Jackson & Perkins and Park Seed are important companies in our industry, especially for those of us who live and work in South Carolina.

    These last few years the economy has been very weak for many growing operations, however it won’t always be this way. To survive we must change, but change is never easy.

    I have been a customer of both the wholesale and retail divisions of both companies. I hope and pray that whomever wins the bid will continue to invest in Jackson & Perkins and Park Seed, bringing innovation and great products to the market.

    May the wonderful people who work for J&P and Park Seed not only survive, but may they ultimately thrive. They have a generous spirit that should be blessed.

More From State of the Industry...

March 4, 2015

Nexus Corporation’s Cheryl Longtin Encourages Women To Seek Volunteer Leadership Opportunities

When Cheryl Longtin came to the horticulture business in 1994, she applied her experience in the automotive industry to promote the adoption of more technology in greenhouse production. Longtin says horticulture, with its rich family tradition, has long promoted women in the industry compared to other industries, but women in horticulture must continue to seek out opportunities to provide volunteer leadership in organizations that shape the future of the business.

Read More

March 4, 2015

Second Annual GreenhouseConnect Will Bring Growers and Suppliers Together in San Diego This October

Following a successful inaugural event in Tampa last fall, Greenhouse Grower has announced the dates of its second annual GreenhouseConnect: October 26-29, 2015. Representatives of an expected two dozen leading greenhouse operations from across the U.S. will join senior-level suppliers at Rancho Bernardo Inn in San Diego for several days of one-on-one strategic meetings, a growers-only roundtable, informational sessions and a variety of networking events.

Read More
cultivate'15 logo

March 4, 2015

Cultivate’15: AmericanHort Announces What’s New

In an industry that has seen major changes occurring at a fast pace, many industry professionals leave Cultivate with their heads spinning and no clear idea of how to regroup and strategize. Cultivate’15 is “Changing the Game.” As this year’s focus, Changing the Game will call your attention to the ways in which our industry has changed and your opportunities to compete successfully.

Read More
Latest Stories
cultivate'15 logo

March 4, 2015

Cultivate’15: AmericanHort Announces What’s…

In an industry that has seen major changes occurring at a fast pace, many industry professionals leave Cultivate with their heads spinning and no clear idea of how to regroup and strategize. Cultivate’15 is “Changing the Game.” As this year’s focus, Changing the Game will call your attention to the ways in which our industry has changed and your opportunities to compete successfully.

Read More
Greenhouse Grower State of the Industry

February 2, 2015

Download Greenhouse Grower’s 2015 State Of The In…

The Greenhouse Grower 2015 State Of The Industry Whitepaper includes all the results of the survey, including comparisons on 2014 sales to past years, details on how 2015 production volume and prices will compare to 2014, crops that growers will increase and decrease production on, where growers stand on using neonicotinoids on crops, how many growers will pursue growing medical marijuana and more.

Read More

January 27, 2015

Benchmarks: Let’s Change Our Story

It's a new year. Time for our industry to change how consumers perceive plants by creating a new reality where plants are valued for more than their physical beauty.

Read More

January 21, 2015

AFE Wins Platinum MarCom Award For “Murder, Sex a…

The American Floral Endowment (AFE) took home its fourth award for the animated awareness video "Murder, Sex and Greed." The organization also recently announced that there are two new members on its board of trustees.

Read More
Greenhouse Grower State of the Industry

January 19, 2015

2015 State Of The Industry: Current Green Industry Tren…

Demand for green industry products and services is forecasted to increase in coming years as the housing market rebounds.

Read More

January 14, 2015

Terra Nigra Joins DNA Green Group

DNA Green Group will be expanding its range of cut flowers by incorporating Terra Nigra, a company specializing in breeding and propagation of gerberas and roses.

Read More

January 14, 2015

Florensis Receives Horticultural Entrepreneur Award

During the January 7, 2015 award ceremony in the Keukenhof, in Lisse, Netherlands, Florensis received the Horticultural Entrepreneur Award. Florensis was one of four nominated companies, which also included Arcadia BV, Artemis and Martens Asperges.

Read More
AmericanHort

January 9, 2015

AmericanHort Celebrates Its First Birthday

AmericanHort was formally launched one year ago on January 1, 2014, and the association is celebrating numerous successes of the first year.

Read More
Carol Miller

January 7, 2015

We’re All In This Together

Growers and retailers have a common goal — to serve customers better. In this new column, Greenhouse Grower will take a look at ways growers and retailers can work together to take advantage of profit opportunities and better meet customer needs.

Read More

January 7, 2015

Industry Speaks Out Against “Waters Of The U.S.” Rule

The Environmental Protection Agency’s proposed rule change to the Clean Water Act, known as “waters of the U.S.,” has the potential to disrupt normal business practices for growers across the country.

Read More

January 7, 2015

Students Tackle Real-Life Challenges At National FFA Fl…

Top prize winners put skills learned in the classroom to the test at the National Future Farmers of America (FFA) Floriculture Career Development Event.

Read More
Lesley Judd

January 7, 2015

2014 Meister Scholarship Awarded To Ph.D Student

The Richard T. Meister Scholarship was awarded to Lesley Judd, a graduate student with a passion for horticulture and a desire to pass her knowledge along through teaching.

Read More

January 6, 2015

39th Annual Today’s Horticulture Symposium Will Be Febr…

The Professional Gardener Alumni Association (PGAA) will hold the 39th Annual Today’s Horticulture Symposium program will be on February 6, 2015 from 8 a.m. or 4 p.m. in the Ballroom at Longwood Gardens, and will feature an array of engaging speakers.

Read More
Shawn McBurney

January 6, 2015

Society Of American Florists Hires New Lobbyist

Shawn McBurney joined the Society of American Florists' (SAF) staff starting January 5 as the new senior director of government relations.

Read More
Greenhouse Grower State of the Industry

January 5, 2015

Growers Are Optimistic For A Strong Year In 2015

Greenhouse Grower’s State Of The Industry survey reveals that growers are being cautious about the inputs they use, and they’re worried about input costs and regulation, but enthusiastic about the rebounding economy.

Read More
Greenhouse Grower State of the Industry

January 5, 2015

The 2015 State Of The Greenhouse Industry: Numbers At A…

Greenhouse Grower's 2015 State Of The Industry Survey shows some promising trends for the new year. Here's a look at the greenhouse market for 2015.

Read More
Greenhouse Grower State of the Industry

January 5, 2015

Suppliers Will Increase Prices, Grower Education For 20…

Vendors' expectations are high for 2015, according to their responses on Greenhouse Grower's 2015 State Of The Industry Survey.

Read More
Greenhouse Grower State of the Industry

December 31, 2014

2015 State Of The Industry: Major Changes In Washington…

Immigration, tax and regulatory reforms are a few important issues to watch in 2015. Still, the horticulture industry is on the threshold of change and has reason to be optimistic.

Read More