Indoor farming company backed by Martha Stewart files for bankruptcy

KIFI

Published July 24, 2023 1:50 PM

MOREHEAD, Ky. (AP) — Officials say a Kentucky-based indoor farming company that was backed by Martha Stewart when it began shipping tomatoes in early 2021 has filed for bankruptcy. News outlets report AppHarvest filed on Sunday for Chapter 11 bankruptcy following several months of financial difficulties including the potential foreclosure of its greenhouse in Richmond and concerns about cash flow. In addition, AppHarvest Founder Jonathan Webb was replaced earlier this month as chief executive officer and chairman of the board. AppHarvest said in a statement that it is looking to restructure while business operations continue at its four farms.

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