Citing Labor Shortages, Produce Co. Files For Ch. 11

Law360, New York (April 22, 2009, 12:00 AM EDT) -- Greenhouse tomatoes and cucumbers producer EuroFresh Inc. has filed for Chapter 11 bankruptcy protection, citing the need to restructure following steady revenue losses from diseased tomato crops and labor shortages.

EuroFresh and subsidiary EuroFresh Produce Ltd. filed their voluntary petitions Tuesday in the U.S. Bankruptcy Court for the District of Arizona after the debtors reached an agreement with a group of investors, including the company's founder and current chairman Johan van den Berg, to recapitalize the company.

“The restructuring will enable us to dramatically improve our...
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