MEDFORD, Ore. — Harry & David is struggling to stay afloat after a weak holiday season caused it to miss some loan requirements.
The company, which sells gift baskets filled with meat, cheese and fruit, reported in January that revenue during the key holiday quarter fell nearly 2 percent to $262 million.
That caused it to miss some requirements of its revolving credit facility, and it could have trouble paying bills unless the loan’s requirements are changed or waived.
In January, the company hired Roth schild and Jones Day as advisers to explore recapitalization alternatives. That effort continues, but Tuesday in an SEC filing, the company said if those efforts prove unsuccessful there is doubt of its ability to continue as a “going concern,” implying a possible bankruptcy- protection filing.
