Bankrupt peach giant Prima Wawona is being liquidated after not receiving a high enough value through the auction process.
Prima Wawona said in bankruptcy court last month that it has started the liquidation process and is looking to move forward expeditiously.
The backstory: Prima Wawona filed for Chapter 11 bankruptcy last October just four years after acquiring Gerawan Packing to become the nation’s largest peach farmer.
To read the rest of the story, please go to: The Sun
Prima® Wawona, the industry’s largest producer of stone fruit, today announced that it is transitioning ownership of the Company and recapitalizing the business. In connection with an agreement reached amongst the Company’s Lenders, Prima® Wawona is proceeding with a transaction that will involve either the conversion of existing lender debt into equity ownership of the business or allow for a sale transaction to a third-party buyer. …
Prima Wawona announced that it is expanding its acreage by another 2600 acres devoted to growing Stone Fruit. …
Prima® Wawona (prima.com), the largest stone fruit producer in the U.S., has partnered with a leading fresh produce strategic insight and research company to provide retailers with key stone fruit category data. These insights help retailers identify areas of growth and opportunity within the category and allow Prima® Wawona to develop programs specifically tailored to their retail partners. …
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