Major fruit producer that serves Walmart, Kroger and Wegman’s files for bankruptcy blaming soaring inflation | The Sun

Prima Wawona, a top fruit producer headquartered in California, initiated voluntary Chapter 11 proceedings in early October. The fruit producer supplies fruits to major retailers across the country including Walmart and has over 150 years in the fruit supply industry. However, unfortunately, with inflation on the rise, increasing costs, and weather-related impacts, the fruit supplier has been negatively affected. The bankruptcy filing is part of an agreement reached with the top lenders to convert existing lender debt into equity or allow for a sale to a third-party buyer. Prima Wawona’s Chief Executive Officer John Boken noted in an interview that Prima Wawona prides itself on supplying the largest, most diverse selection of conventional and organic stone fruit across the country and is happy that their lenders have reached an agreement. Despite the filing, Prima Wawona preached that the company’s dedication to delivering superior quality stone fruits to its customers and consumers remains.

The court-supervised process allows for the possibility that a qualified third-party buyer will emerge as the owner of the business as an alternative to our lenders. The entire Prima Wawona organization is focused on working through this process as quickly as possible.

Source: Major fruit producer that serves Walmart, Kroger and Wegman’s files for bankruptcy blaming soaring inflation

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