Hines Horticulture, Inc. Files Chapter 11 Petition to Facilitate Going Concern Sale of Its Assets
IRVINE, CA, Aug 20, 2008 (MARKET WIRE via COMTEX) — Hines Horticulture, Inc. (“Hines Horticulture” or the “Company”) today announced that it and its wholly-owned subsidiary, Hines Nurseries, Inc. filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Court”) to facilitate the going concern sale of all or substantially all of the Company’s assets. In recent months, Hines Horticulture and its advisors extensively explored multiple restructuring alternatives, including the sale of all or specific portions of the Company’s operations, a new debt or … Read more