Alvarez & Marsal Canada Inc. reports that in the matter of the BC Tree Fruits Cooperative bankruptcy, Shukin Orchards Ltd. of Creston is the successful bidder for the Growers Supply Co. property at 754 35th Avenue South in Erickson, British Columbia.
The court-appointed monitor indicated in December 30, 2024 documents that Shukin Orchards was the sole bidder, offering $1.9 million for the property which had been listed at $2.35 million.
The property encompasses 19.6 acres with a 85,000-square-foot warehouse. Zoned for light industrial use as well as agriculture, the property has about 11.8 acres in the Agricultural Land Reserve.
Recapping developments in fall 2024, the court approved the sale of 1200 Waddington Drive, Vernon and certain inventory and equipment to Stonemark Investments Ltd. for $3.2 million. This transaction closed on October 11, 2024.
The court also approved the sale of all commercial chemical and fertilizer inventory to TerraLink Horticulture Inc for a purchase value of 60% of the book value of chemical inventory and 30% of the book value of fertilizer inventory. This transaction closed October 17, 2024.
As of early January 2025, no offer has materialized for the Oliver packinghouse. The court has postponed the BC Tree Fruit Cooperative’s 2024 annual general meeting to April 30, 2025.
Click here to see more...