Bankrupt Prima Wawona to liquidate assets
Once the largest stone fruit producer in California’s Central Valley, Prima Wawona filed for Chapter 11 bankruptcy protection on Oct. 13, in a bid to facilitate the sale of the company.
However, the firm said in bankruptcy proceedings last month that it has started a liquidation process after not receiving satisfactory offers through the auction process, The Sun reports.
Related articles: Largest California stone fruit producer files for bankruptcy hoping to sell business
According to Pearson Realty on behalf of lender Wawona Farm Co. LLC, the company currently has nearly 13,500 acres of land to liquidate, which were given a $370 million price for sale. The land is split up into seven groups located in parts of southeastern and west Fresno County.
According to sources close to the Prima Wawona, employees have been given 60-day notices of termination.
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