Owner of Weeks Roses files for Chapter 11
International Garden Products, the parent company of Weeks Wholesale Rose Grower and Iseli Nursery Inc., has filed for bankruptcy protection, according to an article in the Wall Street Journal.
Court papers state that the company, which supplies roses to garden centers and landscape suppliers across the country, was negatively affected by events unrelated to operations, such as an unpaid $1.7 million order for roses from rival grower Jackson & Perkins for the 2010 season.
Other liability issues total $27.2 million, court papers state.
International Garden Products is seeking bankruptcy court approval of a $7.5 million interim loan to continue operations, the newspaper said.