After filing for Chapter 11 bankruptcy protection in June, Newark, N.J.-based AeroFarms, which called itself a pioneer of large-scale commercial indoor vertical farming, has plans to conduct an auction to sell company assets under Section 363 of the U.S. Bankruptcy Code while continuing day-to-day business operations. The motion was disclosed in a July 11 supplement filed in United States Bankruptcy Court for the District of Delaware, according to the release.
In addition to its July 13 update on the business’s financial and operational restructuring, AeroFarms highlighted the expanded retail availability of its microgreens at Walmart locations in the Mid-Atlantic and Stop & Shop supermarkets in the Northeast.
Guy Blanchard, president of AeroFarms, issued a statement saying, “We are excited by the growing customer