BC Tree Fruits Cooperative, a cooperative of more than 300 growers that produce apples, cherries, pears, peaches, nectarines, apricots, prunes, plums and table grapes based in Kelowna, British Columbia, says its board of directors will seek court direction and assistance to liquidate the cooperative while maximizing recovery for stakeholders.
The board determined on July 25 that low estimated fruit volumes, weather effects on crops and difficult market and financial conditions made it difficult to operate the business, according to a news release.
BC Tree Fruits was founded in 1936 as a central selling agency for interior-grown tree fruit for the province. Today, company operates three packing facilities and six receiving facilities.
“This is a very unfortunate situation, and we are working with our lenders and advisors as we embark on this process,” the cooperative said in the release.
