Hines Nurseries' Forest Grove, Ore., location might lay off 96 workers as early as Monday because of its inability to extend its line of credit, according to a report on www.OregonLive.com. Here are highlights of the online story:
While the company seeks financing, it expects to file for Chapter 11 bankruptcy protection, Sandra Runyon, vice president of human resources for the Irvine, Calif., based parent company, said in an Oct. 6 letter sent to government officials.
Layoffs at its Forest Grove operation, 45296 S.W. Ritchey Road, will be necessary if the company is not able to obtain financing by that date, the letter states.
The company said it had not informed employees of this attempt "as doing so would have hurt Hines' chances of extending the line of credit and its ability to obtain other financing and business. It would have also damaged Hines' relationships with its customers, which would have further damaged Hines ability to obtain financing and business."
In August, Hines Nurseries LLC announced it would stop growing plants and flowers in Irvine, also the site of its corporate headquarters. While the headquarters remain in Irvine, the action eliminated about half of its 160 nursery workers there.
In December 2008, a federal bankruptcy judge in Delaware awarded assets of Hines Horticulture to Black Diamond Capital Management, LLC, an asset management firm. Hines Horticulture filed Chapter 11 bankruptcy petitions in August 2008.
Afterward, Hines Nurseries LLC, a limited liability corporation owned by Black Diamond, was formed. Hines has been in the nursery business slightly more than 90 years.
The Hines Nursery website, www.hineshorticulture.com, was not in operation late this week.