Mercon Coffee Group, one of the world's largest coffee traders, has filed for Chapter 11 bankruptcy protection in the United States due to supply disruptions, steep price moves, and higher borrowing costs during the pandemic. The company cited an 'exceptionally challenging operating environment' as the reason for the bankruptcy filing. The bankrupt global coffee trader is seeking a cheaper way to fund its restructuring after a proposed loan from Rabobank was rejected by a US judge. The bankruptcy filing comes at a time when the world may experience even less coffee from Vietnam, the largest grower of the robusta variety, due to a smaller crop and growing local demand.
The world may get even less coffee from Vietnam, the world’s biggest grower of the robusta variety used in instant drinks and espressos, as a smaller crop and growing local demand squeeze supplies https://t.co/HL6onRx3Vm
Mercon, the bankrupt global coffee trader, must try to negotiate a cheaper way to fund its restructuring case after a US judge rejected a proposed loan from Rabobank https://t.co/nz3qwoNVsJ
Mercon, the bankrupt global coffee trader, must try to negotiate a cheaper way to fund its restructuring case after a US judge rejected a proposed loan from Rabobank https://t.co/9U1k0fcUSR
Huge global coffee supplier seeks sale in Chapter 11 bankruptcy https://t.co/I6mklX5cT3
Coffee trader Mercon runs out of credit, files for bankruptcy https://t.co/zOLxWSTBRO https://t.co/tJz0F7umbl
Coffee trader Mercon filed for Chapter 11 bankruptcy in New York as supply disruptions, steep price moves and higher borrowing costs throughout the pandemic eroded the its ability to pay debt https://t.co/goLKTx7uhX
Coffee trader Mercon filed for Chapter 11 bankruptcy in New York as supply disruptions, steep price moves and higher borrowing costs throughout the pandemic eroded the its ability to pay debt https://t.co/CqyANK9u6k
Exclusive: Coffee trader Mercon runs out of credit, files for bankruptcy protection https://t.co/QXwVcP7Nj3 https://t.co/8KWDWW4L7z
Exclusive: Coffee trader Mercon runs out of credit, files for bankruptcy protection https://t.co/NwkNq85CT0 https://t.co/f9Bw22L04h
⚠️ COFFEE TRADER MERCON FILES FOR BANKRUPTCY PROTECTION Mercon Coffee Group, one of the world's largest coffee traders, has filled for bankruptcy protection in the United States due to what it defined as "exceptionally challenging operating environment", according to a document…