Harry & David Holdings is seeking to file for Chapter 11 bankruptcy protection, The Wall Street Journal reports. The specialty gourmet fruit retailer has reached a deal with its creditors, under which it will convert its bond debt to equity. UBS and Ally Bank are looking to provide Harry & David with around $100 million in debtor-in-possession financing. The company is also seeking to raise additional capital through a new stock sale.
Click here for the story from The Wall Street Journal.