Cimino Bros.’ financial issues surfaced in October 2009, when a $6.5 million loan from Wells Fargo came due. Wells Fargo seized its $255,000 bank account.
Cimino Bros. dealt primarily in broccoli, with operations in Mexico under Cimino Bros. Co. Produce Mexico, formed in 1998. The company developed the largest national network of Asian foodservice distributors, according to court filings. It reported strong growth between 2004 and 2007, when revenues jumped from $14.6 million to $20.7 million.
A Perishable Agricultural Commodities Act spokeswoman in Tucson said there were no PACA claims against the company. Creditors listed in court documents include transportation companies, financial institutions and government entities.