MOREHEAD, Ky. — AppHarvest, a Kentucky-based indoor farming company that was backed by Martha Stewart when it began shipping tomatoes in early 2021, has filed for bankruptcy, officials announced on Monday.
The Chapter 11 filing on Sunday came following several months of financial difficulties, including the potential foreclosure of its greenhouse in Richmond and concerns about cash flow, news outlets reported. In addition, AppHarvest Founder Jonathan Webb was replaced earlier this month as chief executive officer and chairman of the board.
The company said in a statement that it is looking to restructure while business operations continue at its four farms.
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