Hydroponic vegetable grower Eurofresh Inc. is headed into the final stage of its Chapter 11 bankruptcy, with a rescheduled hearing on confirmation of its reorganization plan now set for Oct. 14 in Phoenix.
Eurofresh, which filed for bankruptcy reorganization in April, reached an agreement with a group of investors including its founder to reorganize the company by essentially exchanging $240 million in debt for new stock and cash.
Lawyers for Eurofresh and its creditors were in court in Phoenix on Monday to finalize a settlement with the U.S. Department of Labor on alleged wage violations and to report the status of other matters ahead of the Oct. 14 hearing.