In Irvine, Hines Nurseries LLC has recently announced that it has filed for Chapter 11 bankruptcy protection.  The company told new sources that it chose to file for bankruptcy after getting hit by a decrease in customer demand for its products which is plants.  The company also said that the increase in production and distribution costs played a role.

At this time, the company has secured $5million debtor-in-possession financing and is expected to give up $20 million so it can continue its day to day operations.

It is said that the company's bankruptcy filing was expected.  Last week, the company advised employment officials in Oregon and Texas that it might have to move forward with major layoffs as early as October if it was unable to extend its line of credit.

Planning to file for bankruptcy in South Texas?  If so, contact the Malaise Law Firm to have your options reviewed by a South Texas bankruptcy attorney.