Vertical agricultural firm Plenty has applied for bankruptcy, saying in a Monday press release.
In this statement, Player said that as part of the proposed restructuring plan, the debtor financing was promised $ 22.7 million. We plan to continue to operate the Virginia Strawberry Farm and Wyoming’s Plant Science R & D Center.
Debt-holder financing is a funding for companies in chapter 11 bankruptcy.
SOUTH SAN Francisco, based on SOUTH SAN Francisco -based Plenty, has been almost 10 from various investors including Softbank Investment Advisers, Walmart, Bezos Expeditions and Jeff Bezos We have raised billions of dollars of funds.
According to Pitchbook, the last known evaluation was $ 1.9 billion at the time of $ 400 million in $ 400 million.
In recent years, the industry has been struggling with bankruptcy. In November 2024, AGTECH Unicorn Bowery Farning was reported to have been closed after raising more than $ 700 million, worth $ 2 billion in 2021, and in 2023, Aerofarms and Appharvest applied for bankruptcy protection. Aerofarms raised more than $ 300 million from the patrons before applying for bankruptcy. In September 2023, bankruptcy protection completely funded.
Appharvest raised more than $ 700 million before it was released in 2021 for $ 1 billion. In 2023 I applied for protection.
