AppHarvest ’s three greenhouse were auctioned last hebdomad . In a single bid , the two largest farms in Morehead and Richmond were offer . investiture firm Equilibrium submitted the only bidding — a $ 113 million credit rating bid — for these two 60 - Accho love apple - growing facility , leading to the cancellation of the schedule auction .
Bosch Growers , a Netherlands - based mob - run grower in operation since 1854 , submitted the winning bid on Thursday for AppHarvest ’s last remaining farm , a 30 - acre cucumber and strawberry greenhouse in Somerset . Read more about the acquisition here .
Appharvest file for Chapter 11 bankruptcy security in July . After their greenhouse in Berea was transplant to its landlord and lease mate , the remain farms were offer for sale in guild to keep them operational and denigrate hoo-ha to employee .
Richmond and MoreheadEquilibrium , who acquired the Richmond and Morehead farms , has had a long - standing liaison with AppHarvest and played an active part during the failure proceeding .
One of Equilibrium ’s subordinate companies loan AppHarvest over $ 90 million to digest the twist of the Richmond farm . In May , Equilibrium took effectual action against AppHarvest , alleging that expression problem led to a breach of the loan agreement . When AppHarvest formally charge for bankruptcy in July , Equilibrium provide nearly $ 30 million in financial backing to keep their farms functional during the operation . to boot , Equilibrium acquired assure title from another creditor related to the Morehead facility , give them a financial stake in both the Richmond and Morehead farms .
Objecting the salesSeveral AppHarvest provider are object the sales agreement . Dutch greenhouse build company Dalsem , builder of the Morehead and Richmond facilities , argues the sales should not be approved , because it would result in creditor ’ outstanding account not being paid .
Another company object to the approval of the cut-rate sale is Aweta , a Dutch supplier whose sorting machine is at the Richmond facility , but installation and payment has n’t been completed . They request defrayal of the final 10 % of the purchase monetary value and freight charges . They state , " While AWETA does not oppose the Debtors ' overall proposal to betray their assets and liquidate , it is axiomatical that a debtor can not trade something it does not own . "
An objection against the Somerset sales event was file away by Walker , a company that provided building and related to services . They essay more security in full payment of their shop mechanic ' spleen as they are interested that the motion and related document miss clearness about how this will be done .
The solvent of the auctions are pending court of justice approval , which is schedule for September 7th .
© FloralDaily.com/Arlette Sijmonsma
