The demise of Grant Family Farms in Wellington
, Colorado's largest community-supported agriculture program and which filed for bankruptcy liquidation last month, is not an early alarm to the increasingly popular sector, participants and observers said Monday.
The surprise closing is more indicative of a troubled business that simply got too big, almost four times larger than its nearest contemporary, according to interviews.
Owner Andrew Grant could not be reached for comment Monday but said in a statement that his business built the nation's largest CSA. Despite Chapter 7 liquidation, Grant said the company was hopeful "it will emerge from this ... better than it went in."
"Now, more than ever, the illusions of division threaten our very existence. We all know the truth: more connects us than separates us. But in times of crisis the wise build bridges, while the foolish build barriers. We must find a way to look after one another as if we were one single tribe.” -King T'Challa, Black Panther
The truth is incontrovertible. Malice may attack it. ignorance may deride it, but in the end, there it is. ~Winston Churchill
Something the Dog Said wrote: This is a straight liquidation under Chapter 7, not a Chapter 11 reorganization.
Wow. That essentially means the creditors and company decided there was less money to be lost just shutting it all down instead of a temporary respite from bill collectors to get the company turned around.
Hopefully this was just an exception to the industry. Some companies pay way too much to grab a dominant share of the market. Bright side, the competition will be able to expand.
Thomas Sowell: There are no solutions, just trade-offs.
