B and H Flowers is the latest Top 100 Grower to file for Chapter 11 bankruptcy protection, filing June 3 after its bank raised concerns about the operation’s financial health.
Another Top 100 Grower–and a California grower at that–filed for Chapter 11 bankruptcy protection last month when Nurserymen’s Exchange announced it was reorganizing. B and H Flowers, which covers 1.35 million square feet of greenhouse space, is about half the size of Nurserymen’s Exchange.
According to the Wall Street Journal, B and H recorded $16 million in revenue during the last fiscal year but it expects to take in much less this year. B and H, which is made up of 140 employees, plans to close a remote nursery location located three hours north of its Santa Barbara headquarters.
Learn more about B and H online at http://blogs.wsj.com.