Filing Alert: Plenty Chapter 11

Plenty Unlimited Texas LLC and its debtor affiliates⁽¹⁾, a vertical farming company specializing in indoor, technology-driven agriculture, filed for Chapter 11 protection on Mar. 23 in the U.S. Bankruptcy Court for the Southern District of Texas.

The company has secured a $20.7 million DIP facility to maintain operations during the Chapter 11 process. The debtors are also pursuing a sale process for all or a portion of their assets or equity interests. A joint plan and disclosure statement have been approved internally but have not yet been filed.

The company reports $100 million to $500 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-90105.

⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.

Chapter 11 Debtors

Top Unsecured Claims

Key Parties

Counsel:

• Duston K. McFaul
• Sidley Austin LLP
• Email: dmcfaul@sidley.com

Co-Counsel:

• Wilson Sonsini Goodrich & Rosati, Professional Corporation

Investment Banker:

• Jefferies LLC

Financial Advisor:

• Uzzi & Lall

Signatories:

• Daniel Malech – Interim Chief Executive Officer

Claims Agent:

• Stretto, Inc.

Equity Security Holders:

• SVF Excalibur (Cayman) Limited – 46.8% Equity Interest
• One Madison Group - Plenty, LLC – 18.7% Equity Interest
• Walmart Inc. – 12.8% Equity Interest
• Other Minority Investors – 21.7% Equity Interest

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

Stay informed on every Chapter 11 bankruptcy case with liabilities exceeding $10 million. Subscribe for free to have our coverage delivered directly to your inbox, and explore our full archive of past summaries.

If you're already a subscriber and would like to receive timely filing alerts, please reach out and we'll add you to the distribution list.