NL: Relaunch of Future Crops under investigation, cause of bankruptcy remains guesswork

Almost a month after the bankruptcy, the exact cause of the bankruptcy of vertical farm Future Crops in Poeldijk remains a mystery. There are suspicions about high energy costs as the cause, also because numerous other vertical farms are struggling with this, but the bankruptcy report does not point this out. Also, in the days after the bankruptcy, no further information about the cause for the bankruptcy came out. The trustee writes that the cause is "under investigation."

The possibility of a relaunch is also being explored, the report further reveals. A bidding process has begun. After the bankruptcy, cultivation has not been continued temporarily. Future Crops rents premises at the ABC business park in Poeldijk.

Future Crops employed 21 people at the time of the bankruptcy. In consultation with the UWV, a staff meeting and a collective intake for the wage guarantee scheme took place.

Five unsecured creditors have come forward, amounting to over 67,000 euros. The trustee writes that 'on balance,' there is no claim from banks. The business activities have been financed by various (external) financiers. There are substantial claims in this respect. No security rights have been established.



Since the pronouncement of the bankruptcy on January 24, the trustee has mainly spent time trying to effect "an integral (asset) transaction. That is a form of acquisition in which all of the company's assets are acquired selectively and individually and not - unlike in a stock transaction - all at once.

The trustee was asked for clarification.

The bankruptcy was registered under reference: 09. dha.23.23.F.1300.1.23. Mr. J.J. Wittekamp of The Hague has been appointed trustee. 

For more information:
Future Crops
info@future-crops.com  
www.future-crops.com