Mar 26, 07:21 PM

Plenty Files for Chapter 11 Bankruptcy, Valued at $2 Billion and Backed by Jeff Bezos and DIP Financing from One Madison

Plenty, a vertical farming company valued at around $2 billion and backed by investors including Jeff Bezos and SoftBank, has filed for Chapter 11 bankruptcy. The bankruptcy filing indicates that the company will be seeking Debtor-in-Possession (DIP) financing from One Madison, an existing backer. This development follows the recent collapse of Bowery, another vertical farming unicorn, raising concerns about the viability of the vertical farming sector. Plenty's financial struggles highlight the challenges faced by companies in this industry, particularly in securing sustainable revenue streams amidst rising operational costs.

#Plenty #Jeff Bezos #SoftBank #One Madison #Bowery

Written with ChatGPT (GPT-4o mini).

Sources

Citizen TV Kenya@citizentvkenya
8 months ago
Tech credit start-up Lipa Later placed under administration https://t.co/oyawuBQLTK
San Francisco Chronicle@sfchronicle
8 months ago
“June’s Pizza slices reminded me of the strength of simplicity. Most of all, they helped me understand the pizzeria in a way that I had missed the first time around,” critic Cesar Hernandez writes about the Bay Area pizzeria. https://t.co/SHYVqoRZ1m
San Francisco Chronicle@sfchronicle
8 months ago
This San Francisco restaurant changed a beachside neighborhood. 16 years later, it’s more magical than ever. Read critic MacKenzie Chung Fegan’s review: https://t.co/2MCheeV3Nx

Plenty Files for Chapter 11 Bankruptcy, Valued at $2 Billion and Backed by Jeff Bezos and DIP Financing from One Madison

Sources

Additional media

Similar Stories