Industry feeling effect of economic slowdown
Industry feeling effect of economic slowdown
Twice as many produce companies have gone out of business owing money so far this year than in a comparable period last year, according to the records kept by The Produce Reporter Co. on firms listed in its Blue Book industry directory and rating service. "[The years] 2006 and 2007 were average for the number of listed companies being reported to have ceased operating with obligations not fully liquidated," Ken Schultz, vice president of rating services for the Carol Stream, IL-based firm, told The Produce News. He called the increase this year "unusually large," even when compared to other