DISTRESSED DAILY: Low Prices Pressure Peach Grower Prima Wawona

Prima Wawona, one of the largest growers of stone fruit in the U.S., is under increasing financial pressure due to higher freight costs and lower prices for its produce.

The San Joaquin Valley, California-based producer of peaches and nectarines had a tough third quarter -- its most important financial period due to the growing season -- and may run out of cash as soon as next year, according to Moody’s Investors Service.

A bumper crop of stone fruit led to lower prices this year, and that’s following a voluntary recall on a possible salmonella outbreak that negatively impacted ...