Bankruptcy Lifeline: A $51 Million Gamble
To keep its operations afloat through restructuring, TreeSap Farms is seeking court approval for $51 million in debtor-in-possession financing—a mix of $22 million in fresh funding and a $29 million rollup of prepetition debt.
Guiding its financial survival are Keystone as financial adviser and Armory Securities as investment banker. The company has enlisted McKool Smith’s John J. Sparacino, S. Margie Venus, and Adam D. Skrzecz, along with Hunton Andrews Kurth LLP’s Timothy A. Davidson II, Joseph P. Rovira, and Catherine A. Rankin for legal counsel.
As TreeSap Farms fights to salvage its business, industry watchers will be keeping a close eye on whether this once-thriving nursery giant can weather the financial storm—or if this Chapter 11 filing marks the beginning of the end.
