Awash In $100M Debt, VeroBlue Files For Chapter 11, Sues Top Management
November 19, 2018 | 1 min to read
WEBSTER CITY — VeroBlue Farms, which promised to make fish a leading commodity in this landlocked Hamilton County town, has filed for Chapter 11 in federal bankruptcy court, disclosing that it is drowning in more than $100 million debt, most of which is unsecured.
VBF, according to its bankruptcy petition, owes $98,943,246.22 in unsecured debt to its top 20 creditors.
It has another $6 million in secured debt, that being assigned to Broadmoor Financial LP, of Wichita, Kansas, VBF’s top creditor. VBF owes more than $53 million to that firm alone.
To read the rest of the story, please go to: The Messenger