Park Seed will restructure

By Charles Sowell  

APRIL 13, 2010 7:19 a.m. (0)

Park Seed, the iconic Greenwood company that has provided generations of gardeners with quality seeds and plants, filed for Chapter 11 bankruptcy protection last week citing an overall decline in business due to the recession.

The Geo. W. Park Seed Company has been a mainstay in the Greenwood area since 1924.

The company was started in Libonia, Penn., in 1868 and existed in several locations before settling in Greenwood.

In addition to Geo. W. Park, Park Seed Wholesale Co., and the Jackson & Perkins Company filed for bankruptcy protection, said Claire Kuhl a spokesperson for the company.

“We’re looking forward to getting this process started and coming out on the other side as a successful company,” she said.

The filing will have no effect on day-to- day operations, Kuhl said.

“We’re hiring seasonal workers to help in the nursery and deal with customer orders,” she said. “Our customers should not notice a thing.”

An emergency hearing is scheduled this week in Columbia, Kuhl said and Parks officials hope to get thing underway as soon as possible.

The vegetable seed business has shown a marked increase as the economy slid, Kuhl said. However, the market for luxury garden products like flowers and roses suffered a sharp decline.

The recession also hit the company’s garden inspired gifts section hard, she said.

In spite of cost cutting measures Parks suffered increasing losses with each passing season and could no longer maintain sufficient cash flow to maintain operations.

Parks business office, garden center, call center, online service as well as shipping and receiving will continue to operate, she said.

Parks provides more than 1,000 varieties of seeds for vegetables, flower and herbs as well as plants and gardening materials through its divisions, Kuhl said. There are about 330 workers at the company’s Greenwood facilities as well as seasonal workers.

Altogether the companies owe more than $10 million to creditors and suppliers. Those groups will be asked to take part in a board to negotiate through the bankruptcy process, Kuhl said.

“We’re learning as we go through this process,” Kuhl said.

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