Flower Delivery Mainstay FTD Files Bankruptcy, Will Sell Assets

FTD Cos., the flower delivery mainstay that operates ProFlowers and FTD.com, filed for bankruptcy protection in Delaware after a lackluster Valentine’s Day foiled efforts to find a buyer and repay debt.

FTD tried and failed to sell its entire business and instead will sell itself in pieces, it said in court documents on June 3. The company reached a deal to sell its restructured North American and Latin American businesses, including ProFlowers, to a Nexus Capital Management affiliate for $95 million, according to a court declaration by Chief Executive Officer Scott D. Levin.

It’s also selling its U.K.-based Interflora business ...