By Chris Bagley
The owners of McDonnell Horticulture Inc. have put the company into Chapter 11 bankruptcy in an attempt to restructure at least $1.4 million in debt. McDonnell has addresses in north Raleigh and the Moore County town of Cameron.
The plant nursery has assets of between $1 million and $10 million, according to a petition the company filed Dec. 21 in U.S. Bankruptcy Court for the Eastern District of North Carolina; a partial listing of its liabilities showed it as owing just over $1.4 million. Debtors are required to file more thorough financial information within a few weeks of their initial petitions.
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