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In page Teufel Nursery:
"The company filed for Chapter 11 bankruptcy protection as well as filing a countersuit in June 2009 when its primary lender, Textron, sued for immediate payment on a $5.9 million note after the drop in the housing market and the recession reduced revenues from a high of $45 million annually in 2006 to around $32 million projected. Teufel, while still being solvent and profitable, experienced difficulties securing new creditors[4] and decided to operate on a cash-only basis and scale back its operations, liquidating a portion of its assets in 2010.[5][6] Before entering bankruptcy, the company employed more than 500.[5][7] In June 2011, Teufel repaid its major creditors in full.[8]
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