By Rick Archer (July 9, 2021, 10:39 AM EDT) -- Minnesota-based organic and non-GMO farm supply and food distributor Pipeline Foods LLC has filed for Chapter 11 protection in Delaware bankruptcy court, claiming between $100 million and $500 million in liabilities.
The company, which describes itself as "the first U.S.-based supply chain solutions company focused exclusively on non-GMO, organic, and regenerative food and feed," filed its Chapter 11 petition late Thursday.
In a statement Friday, Pipeline CEO Anthony Sepich said the COVID-19 pandemic and the company's secured debt load "caused significant financial distress on our business."
"As a result, we believe that a bankruptcy filing and a potential sale of the...
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