Leamington's Lakeside Produce files for bankruptcy
A large greenhouse grower in Leamington has filed for bankruptcy.
Several online publications, including "The Packer" say Lakeside Produce owes $188-million to 300 creditors.
That includes a fellow Leamington business Nature Fresh Farms which is owed $907-thousand dollars.
In 2021, Lakeside Produce was one of several food processors to split $4.2-million in federal funding to upgrade safety measures needed during for the COVID-19 pandemic.
In 2016, the company received $1-million in provincial funding to invest in new technology, expand and add 200 full-time jobs by 2019 while retaining 300 positions. That was part of Lakeside's $7-million plan to upgrade equipment and production capacity to export more products such as peppers, cucumbers and tomatoes to the Americas and Asia.
Photo courtesy: Lakeside Produce Twitter account (@LakesidePro)
According to "The Packer", which cites public documents, total liabilities as declared by the debtor were $187,889,241 CAD. Total assets as declared by the debtor were $3,580,233 CAD.
The Lakeside Produce Facebook page says it has been focused on delivering fresh, flavourful produce to families everywhere for 75-years.
The company has locations in Leamington, Michigan and Texas.