Filing Alert: Gardener's Supply Chapter 11
Gardener's Supply Company Files Chapter 11 in District of Delaware
America's Gardening Resource, Inc. (dba Gardener's Supply Company) and its debtor affiliates⁽¹⁾, a Burlington, VT-based retailer of gardening supplies and equipment, filed for Chapter 11 protection on Jun. 20 in the U.S. Bankruptcy Court for the District of Delaware.
The filing is intended to facilitate an orderly sale of substantially all assets under §363, with Gardens Alive, Inc. serving as the $9 million stalking horse bidder following a broad prepetition marketing effort led by Tower Partners. The ESOP-owned company faced liquidity constraints driven by a combination of adverse macro- and microeconomic factors, revenue pressure stemming from post-ERP implementation fulfillment issues, and ongoing ESOP repurchase obligations. The company reports approximately $8.2 million in funded secured debt—primarily consisting of a BofA line of credit, BofA equipment loans, and debt with Northfield Savings Bank—and holds roughly $4 million in cash. The debtors intend to seek consensual use of cash collateral to support the sale process and fund operations.
The company reports $1 million to $10 million in assets and $10 million to $50 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-11180.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Counsel:
- Patrick J. Reilley
- Cole Schotz P.C.
- Email: preilley@coleschotz.com
Financial Advisor / CRO:
- Aurora Management Partners (David M. Baker)
Investment Banker:
- Tower Partners
Claims Agent:
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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