BC Tree Fruit to seek assistance to liquidate
BC Tree Fruit to seek assistance to liquidate
On July 25, the BC Tree Fruits Cooperative’s board of directors said that it can no longer sustain its operations due to extremely low estimated fruit volumes, adverse weather conditions and challenging market and financial circumstances. As a result, BC Tree Fruits Cooperative and its subsidiaries will seek court direction and assistance to liquidate in an effort to maximize recovery for all stakeholders.
In this unfortunate situation, the board is collaborating with lenders and advisors to manage this process. It requests patience from all parties as it navigates this difficult period.
BC Tree Fruits Cooperative comprises over 330 local families who produce a range of tree fruit commodities, including apples, cherries, pears, peaches, nectarines, apricots, prunes, plums and table grapes. The Cooperative's head office is located in Kelowna, BC.