Arizona tomato grower files for reorganization
TUCSON, Ariz. — A southern Arizona tomato grower has filed for Chapter 11 bankruptcy for the second time in four years with the intention of selling its assets to a major rival.
Willcox-based EuroFresh Farms filed for bankruptcy Monday in Tucson.
San Antonio, Texas-based NatureSweet Limited has announced that it plans to purchase substantially all of the assets of EuroFresh.
NatureSweet and EuroFresh Farms are two of the leading producers of fresh tomatoes in North America.
EuroFresh has more than 300 acres of greenhouses in Willcox and Snowflake.
The company filed for Chapter 11 bankruptcy in April 2009 and emerged as a reorganized company in November 2009.
In bankruptcy papers, EuroFresh said it had fallen into default on its biggest loans and that without an asset sale it would have to cease operations.
Copyright 2013 The Associated Press.