Plenty Unlimited Inc. has emerged from Chapter 11, after the United States Bankruptcy Court for the Southern District of Texas confirmed its plan of reorganization.

“This emergence is the start of a new, focused era for Plenty,” said Dan Malech, Plenty’s interim CEO. “To accelerate our impact, we are laser focused on strawberries. We’re expanding the growing capacity in the Plenty Richmond farm and pursuing opportunities to bring Plenty’s vertical strawberry farming technology to new locations through farm sales – something Plenty is uniquely positioned to offer based on its proprietary technology.”

Following a successful first planting cycle, Plenty is now preparing for the second strawberry planting in its Richmond farm and to resume construction that will expand the farm’s growing space.

Through the Chapter 11 process, Plenty successfully negotiated the resolution of outstanding claims with its creditors, clearing a path forward for many of them to return to Chester, Virginia, to complete the buildout of growing spaces in Plenty’s strawberry farm.

Interim funding for the restructuring as well as exit financing was provided by One Madison and SoftBank Vision Fund 2, with further exit financing provided by additional investors.

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Plenty Unlimited files Chapter 11 bankruptcy