Watkins Nurseries Inc., which filed for Chapter 11 bankruptcy protection last week, has reached out to a prominent family member for interim financing
Former state Sen. John C. Watkins, whose son is both the Chesterfield County-based company’s president and majority shareholder, has agreed to lend the nursery and two related businesses — Virginia’s Resources Recycled LLC and Watkins-Amelia LLC — up to $200,000, bankruptcy court documents show.
U.S. Bankruptcy Judge Keith L. Phillips approved the post-petition financing, also known as debtor-in-possession financing, on an interim basis during a hearing Monday morning. A final hearing on the matter is scheduled for March 10.
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