Indoor Vertical Farmer AeroFarms Files for Chapter 11 Bankruptcy

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 ...