FTD files for Chapter 11
June 3, 2019
The flower delivery company, FTD, has filed for Chapter 11 bankruptcy protection and agreed to sell ProFlowers and other assets to pay down its debt load. The company issued a warning in March that it was in danger of going out of business if it did not pay off $217.7 million in debt. FTD has received $94.5 million in debtor-in-possession financing from its lenders.
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