Indoor Vertical Farmer AeroFarms Files for Chapter 11 Bankruptcy

June 8, 2023, 1:34 PM UTC

AeroFarms Inc., an indoor vertical farmer that sells greens in grocery chains including Whole Foods and Harris Teeter, filed for Chapter 11 bankruptcy amid a wider slowdown in the industry.

The Newark, New Jersey-based company listed $50 million to $100 million of liabilities in a petition filed in Delaware on Thursday. A group of existing investors will provide the company with $10 million to help it fund itself during the bankruptcy process, according to a statement.

AeroFarms is working with the investors on a transaction that will let it quickly exit bankruptcy, and is exploring other financing options ...

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