Grant Family Farms Inc., headquartered in Wellington, CO, filed for Chapter 7 bankruptcy protection Dec. 28, 2012. The company, which has farmed for 61 years, grows a host of organic commodities and is an organic Community Supported Agriculture farm.
"Ineligibility for crop insurance coupled with millions of dollars in damage from hail storms and drought — not to mention a massive spinach recall — has left the farm in a financial situation that it's been unable to overcome," the company said in a statement.
Grant Family Farms began operations in 1953 and was founded by Lewis Grant and his son, Andy. Grant Family Farms was the first farm to be certified as organic in the Centennial State.
The company gained a reputation as a supplier of quality produce, marketing commodities to regional retail and foodservice customers. The largest CSA in the nation, the business has approximately 4,500 members.
More than 50 employees were laid off last month after Grant Family Farms officially closed its doors. Court documents set the farm's estimated assets between $500,001 and $1 million. Estimated liabilities fall between $1 million and $10 million.
The company must submit information regarding its financial state to the court on Jan. 11, and a creditors meeting has been scheduled for Jan. 22.
Despite the filing, the company remains optimistic about the future.
"The farm is working hard and is hopeful that it will emerge from this disappointing situation better than it went in," the company's statement read. "Grant Family Farms wants to extend a gracious thank you to the community for its continued support, understanding and patience as it traverses this most difficult path. While the Farm looks forward with hope to what the future might bring, it does so with the anticipation that our community and our amazing CSA family will be there with us."
Attempts by The Produce News to reach Grant Family Farms were unsuccessful.