Major New Zealand cherry grower, Cherri Global has been placed into liquidation after failing to raise capital. According to industry sources this does not come as a surprise after a major change in ownership after they failed to pay back loans.
This news comes five months after the sale of its main cherry orchards in Otago. The company has struggled to fund debts taken on to fund orchard redevelopment. Cherri Global is said to owe $42m.
The company was setup by Rockit apples founder Phil Alison in 2017.
Major New Zealand cherry grower, Cherri Global has been placed into liquidation after failing to raise capital. According to industry sources this does not come as a surprise after a major change in ownership because they couldn't pay back loans.
This news comes five months after the sale of its main cherry orchards in Otago. The company has struggled to fund debts taken on to fund orchard redevelopment. Cherri Global is said to owe $42m.
The company was setup by Rockit apples founder Phil Alison in 2017.