AppHarvest files Chapter 11 protection, plans to sell its Kentucky-based indoor farming facilities

Urban Farm DB summary

AgFunderNews reported that controlled-environment agriculture company AppHarvest filed for Chapter 11 bankruptcy protection on July 24, 2023. It posted a $176.6 million net loss for fiscal 2022, planned to sell its Berea farm to Mastronardi Produce for about $3.75 million, and aimed to sell its Morehead, Richmond, and Somerset facilities as well. It secured $30 million in debtor-in-possession financing from Equilibrium Capital, enabling operations to continue for 60 more days.

Only numbers and their conditions are stored, as structured data — never the source's own sentences. Metric and condition names stay in English, as coded.

• 176.6 million_usd

  net loss(appharvest)

  Economics

  region

  United States

  year

  2022

• 3.75 million_usd

  asset sale price(appharvest)

  EconomicsControl: Berea farm sold to Mastronardi Produce

  region

  Kentucky, United States

• 30 million_usd

  dip financing(appharvest)

  EconomicsControl: from Equilibrium Capital

  region

  United States

  year

  2023

Direction of conclusions

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• Economic viabilityContradicts