Company accepting bids

Henderson, NV

AgriBioTech, Inc. is a large forage and cool-season turfgrass seed company. According to its web site, the company recently announced an interim Bankruptcy Court order authorizing the Company to enter into a Chapter 11 debtor-in-possession ("DIP") credit facility with its pre-bankruptcy lenders.

The company is currently selling its operations and accepting bids from other companies. "We would prefer to sell the company to a single buyer," said Brad Sharp of Development Specialist, Inc., the crisis management firm brought in to oversee the process. However, there is also a possibility that the company will be purchased by a group of companies. Sharp estimates that the bidding process should be complete towards the end of April.

Although the company has closed down a few offices, it is still trying to maintain its normal business operations. According to Sharp, the majority of the business is still up and running. "It's business as usual," said Sharp.