High-Tech Greenhouse Farmer AppHarvest Files for Bankruptcy

AppHarvest Inc., a publicly traded high-tech greenhouse company known for its tomatoes, filed for Chapter 11 bankruptcy as the sector reels from a pullback in venture capital funding and higher interest rates.

Affiliates of the Morehead, Kentucky-based company listed as much as $1 billion of assets and $500 million of liabilities in bankruptcy petitions. The company will continue to operate and deliver produce to national grocery chains as it undergoes the court process to cut back its debt, according to a statement.

The firm secured $30 million in bankruptcy financing from its largest secured creditor, sustainability-focused asset manager ...