Carolina Nurseries Halts Auction

Stop the auction! That’s what Carolina Nurseries President J Guy did Friday morning after two days of plant inventory sales as part of its liquidation.

Guy interrupted the proceedings during the third day of the auction, announcing the auction was immediately over. He told the stunned bidders, “Go home, go home, go home.” The crowd moved to check out the plant logs sold that morning and all auction sales from the first and second day were honored.

Based in Moncks Corner, S.C., Carolina Nurseries was able to negotiate new arrangements with its lender to have a more controlled inventory liquidation over the next three months instead of selling all the plants immediately via auction. The goal is to ensure stable operations as the nursery satisfies its bank obligation. After taking stock of its inventory, post auction, the nursery’s sales staff and its landscape supply division will resume sales as usual starting next week.

“We appreciate this vote of confidence from our bank,” Guy says. “This gives us some breathing room to continue working with our valued customers in the coming months. It helps us better serve them, helps our revenue and ultimately, affords a solid solution for our loan obligations.”

Last week was an intense one as the terms of the nursery’s financing expired June 21 and then 335 employees learned they would be losing their jobs over the next 90 days, as the nursery liquidates its inventory. “I told (our employees) we struck out on financing,” Guy told The Post and Courier, the local newspaper in Charleston. “The deal we thought we had in hand reconsidered.”

Leave a Reply

4 comments on “Carolina Nurseries Halts Auction

  1. Its a shame when floriculture business’ and the like, cannot recieve the financing they need; an absolute shame, but a telling of the times, a heart piercing non-fiction about the American (U.S.) nation at present! 300+ lives altered, maybe they can find a census job. . . .o, thats right they are done with that. . . .

  2. I was at Carolina Nurseries while this travesty took place, only to be there as support for J, David, Steve, and their empoloyees.

    The bank ought to be ashamed for staging this rape and robbery of Carolina Nurseries and their inventory. Why not re-negotiate the nursery loan? I suppose it’s OK to take our tax payer money to bail YOU out, but you have no problem throwing 300+ people on the street? Your greed is only surpassed by your stupidity for holding a ‘No Reserve’ auction. The plants could have been marked down 75% off regular prices and brought more than you generated. I guess the Peter Principal is still alive and well in Corporate America. If I was a shareholder in this bank, I would certainly like an answer as to why you didn’t do a better job of protecting my share value, and work something out. I suppose you look forward to repossessing their homes as well in 5 or 6 months.
    Second, the auction company should be ashamed for the way they handled the auction. Why did you sell in such large lots? How many nurseries are there that can handle 500 to 1000 15 gallon pieces at one time? You eliminated 98% of the bidders who were there. The remaining vultures were drooling all over themselves, winking at each other, stealing 15g plants that should have gone for $20-$25/ea, sometimes for less than $1. Shame on the auction company, their greed is surpassed only by their stupidity. They left lots of money on the table that would have increased their commission, as well as helped Carolina satisfy the bank had they sold at ‘Reserve’ prices.
    Most of all, the bidders who attended the auction should be ashamed for even attending and bidding. Many were even Carolina Nurseries partners in Novalis, as well as long time customers. You DID NOTHING to help them, you preyed upon them at their weakest moment for your own greed, which is surpassed only by your lack of compassion. I sincerely hope you get a visit from the INS, and all of your plants develop a case of Sudden Oak Death. A truly sad day for the industry.

  3. Its a shame when floriculture business’ and the like, cannot recieve the financing they need; an absolute shame, but a telling of the times, a heart piercing non-fiction about the American (U.S.) nation at present! 300+ lives altered, maybe they can find a census job. . . .o, thats right they are done with that. . . .

  4. I was at Carolina Nurseries while this travesty took place, only to be there as support for J, David, Steve, and their empoloyees.

    The bank ought to be ashamed for staging this rape and robbery of Carolina Nurseries and their inventory. Why not re-negotiate the nursery loan? I suppose it’s OK to take our tax payer money to bail YOU out, but you have no problem throwing 300+ people on the street? Your greed is only surpassed by your stupidity for holding a ‘No Reserve’ auction. The plants could have been marked down 75% off regular prices and brought more than you generated. I guess the Peter Principal is still alive and well in Corporate America. If I was a shareholder in this bank, I would certainly like an answer as to why you didn’t do a better job of protecting my share value, and work something out. I suppose you look forward to repossessing their homes as well in 5 or 6 months.
    Second, the auction company should be ashamed for the way they handled the auction. Why did you sell in such large lots? How many nurseries are there that can handle 500 to 1000 15 gallon pieces at one time? You eliminated 98% of the bidders who were there. The remaining vultures were drooling all over themselves, winking at each other, stealing 15g plants that should have gone for $20-$25/ea, sometimes for less than $1. Shame on the auction company, their greed is surpassed only by their stupidity. They left lots of money on the table that would have increased their commission, as well as helped Carolina satisfy the bank had they sold at ‘Reserve’ prices.
    Most of all, the bidders who attended the auction should be ashamed for even attending and bidding. Many were even Carolina Nurseries partners in Novalis, as well as long time customers. You DID NOTHING to help them, you preyed upon them at their weakest moment for your own greed, which is surpassed only by your lack of compassion. I sincerely hope you get a visit from the INS, and all of your plants develop a case of Sudden Oak Death. A truly sad day for the industry.

Latest Stories
Helleborus Frostkiss Penny's Pink

February 24, 2018

Allan Armitage on Hot New Perennials for 2018

Here are some of the perennials Armitage thinks may increase in value in 2018.

Read More
Hellebores-at-Sunshine-Farm-and-Gardens

February 23, 2018

Sunshine Farm & Gardens to Supply Plants for Beijin…

The West Virginia-based nursery will be shipping plants bred and grown in West Virginia to China that will be used in the landscape of several Olympic venues in the February 2022 Winter Olympics.

Read More
Weigela Czechmark (Spring Meadow Nursery)

February 22, 2018

Plant Breeders Emphasize Importance of Patent Protectio…

According to members of MarkWatch, plant patents are an important protection for plant breeders and also provide an incentive for them to invest the time and money to innovate and develop new plant varieties.

Read More
employee-reviewing-shipping-list

February 21, 2018

Four Ways to Get Your Staff to Care About Quality

It can be a challenge to convince your employees to care as much as you do about your business and the quality of products you are providing. Here are four suggestions for making this happen.

Read More
Adult Thrips feature

February 20, 2018

Thrips Causing Headaches? New Research Shows Bio-based …

Dr. Rose Buitenhuis will present practical knowledge for growers to implement immediately during Biocontrols West Conference in San Diego, March 7-9.

Read More
Sedum-Pillow-Talk

February 20, 2018

12 New Poinsettias and Succulents for Holiday Sales, Cr…

Poinsettias and succulents are both in-demand products with today’s consumers. Here’s a look at some of the newer introductions available for retail sales in 2018 and 2019.

Read More
2016 Top 100 Growers With Drone

February 20, 2018

Top 100 Growers Survey for 2018 Is Now Open!

Operations with more than 400,000 square feet of environmentally controlled production are eligible to take the survey, which provides valuable market knowledge on how the nation's largest growers are innovating, sourcing labor, keeping up with demand, and setting trends.

Read More
Pepper-Mexican-Sunset

February 19, 2018

All-America Selections Names Latest Variety Winner, Ann…

All-America Selections (AAS), the 85-year-young non-profit plant trialing organization, had a very busy month of January.

Read More

February 18, 2018

Why Biochar Might Eventually Replace Peat Moss

In a recent study, researchers from the University of California, Davis investigated biochar as an alternative to peat moss.

Read More
Gotham Greens Atrium Style Greenhouse Chicago

February 17, 2018

Gotham Greens Building Second Greenhouse in Suburban Ch…

The new $12.5 million, 105,000-square-foot greenhouse will be near the company’s first Chicago greenhouse, and will be a free-standing structure.

Read More

February 16, 2018

New England GROWS Discontinues After 25 Years

After 25 years, New England GROWS — both the annual event and the organization behind the event — are discontinuing operations.

Read More

February 15, 2018

Boxwood Blight, Seed Your Future Among Topics Receiving…

The Horticultural Research Institute recently announced the 10 research projects that will receive funding in 2018 to investigate challenges and solutions in production, pest management, environmental stewardship, and business and marketing.

Read More
Weigela Czechmark (Spring Meadow Nursery)

February 14, 2018

Spring Meadow Nursery Furthers Its Mission of Giving Ba…

The Spring Meadow-Proven Winners Endowment Fund through the Horticultural Research Institute has now topped $800,000, with more scholarships coming in 2018.

Read More
Laura Drotleff

February 13, 2018

Don’t Let Your New Year’s Resolutions Fade …

Stuff got real in 2017, and it caused many of us to stop and reflect on the current state of the world, and how we can impact change — or at least improve our own situations. Life is too short, and we work too hard, to not use the annual renewal as an opportunity to take stock of our own personal lives, businesses, and careers, and make the necessary adjustments that will allow us to work smarter and live better. Even if you have already given up on your resolutions, perhaps you can think of January as a trial month and make February the month when you really get to work on your goals. And while I know it’s a difficult month to start on some of these changes, since you’re already immersed in the busy spring season, I promise that if you take some time to evaluate your reality […]

Read More

February 12, 2018

Calling All Designers: Enter the International Plantsca…

Applications are being accepted through April 13 for AmericanHort’s International Plantscape Awards, which recognize achievements in interior plantscape design, installation, creativity, renovation, and innovation.

Read More
Jose-Milan-Bayer

February 11, 2018

Bayer Has New Turf and Ornamentals Global Market Manage…

Jose Milan will be focused on helping growers deal with regulatory issues, while promoting the environmental benefits the ornamentals industry offers.

Read More
Dr. P. Allen Hammer, Dummen Orange

February 10, 2018

Applications for Dümmen Orange’s Dr. P. Allen Hammer Sc…

Named for Dr. P. Allen Hammer in acknowledgment of the contributions he has made to the floriculture industry, the scholarship is intended to extend Dr. Hammer’s legacy by supporting the next generation of floriculture students.

Read More
Hand-Crafted Stone Mushrooms (Stone-Age Creations)

February 9, 2018

Garden Retailers at TPIE Highlight Their Favorite Produ…

A team of garden retailers once again participated in the 2018 Tropical Plants Industry Expo Cool Product Awards.

Read More