Layoffs expected at Hines
The company said it may lay off 96 workers in Portland,Ore., because of an inability to extend its line of credit, the news report said, citing a letter sent to government officials in Oregon. The commercial grower, which supplies flowers and shrubs to Walmart, Home Depot and Lowe’s, could also seek bankruptcy protection, according to the article.
In 2008, Hines was purchased out of Chapter 11 by Black Diamond Capital Management, a hedge fund and private equity firm based in Illinois.
Based in Irvine,Calif., the commercial nursery operates growing operations in several states.