Veteran fruit producer Hronis files for Chapter 11
On March 6, Delano-based citrus and table grape producer Hronis, Inc., voluntarily filed for Chapter 11.
According to the document submitted to the US Bankruptcy Court for the Eastern District of California, the company reports between $50 million and $100 million in both assets and liabilities, and is petitioning for funds to be distributed to unsecured creditors.
Allen Soong, Chief Restructuring Officer at Palladin Management, who is consulting company in the bankruptcy process, told FreshFruitPortal.com that his client is currently developing a set of schedules and statements with more specific details about the company’s current financial health. They expect to file those within the next few weeks and close the entire process by midsummer.
Court filings show multiple outstanding debts of up to $3.4 million to creditors, including the California Table Grape Commission, Batth Bros. Farms, Robinhood Logistics, and Sunkist Growers.
“[Filing for Chapter 11] was really a strategic move to strengthen the company and the path forward, as we saw it, as the best option. Because we've been here for 80 years,” company Vice President Pete Hronis noted to FreshFruitPortal.com.
Hronis Inc. is an advertiser in Vision Magazine North America, Fresh Fruit Portal’s sister publication, owned by parent company Yentzen Group.
A fresh start for Hronis
The company has been growing fresh produce in California since 1945. Funded by their father, Jim Hronis, the company is currently run by Pete and his brother, Kosta, and features a leadership team that includes both their children.
Despite the negative connotations of the word “bankruptcy,” the VP assured that the Chapter 11 process is a chance to start over after the first bumps on the road appeared in the aftermath of Hurricane Hillary in 2023.
He explained that the company will work the upcoming California table grape season with uninterrupted day-to-day operations and no changes in headcount thanks to financial backing from Conterra Agricultural Capital, LLC, the company’s senior lender.
The executive underscored the support the company has received from both its staff and its client base, who, Hronis said, have been fully behind the family since the filing.
“I've heard from a number of my customers—they’re fully supportive of the quality and the surety of supply that they know will be there,” he added. “We’re not going anywhere, and we plan to be here a whole lot longer.”
Read the Chapter 11 filing below
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