So, the "private equity firm" that bought Brushy Mountain Bee Farm from the
Forrests did not actually have enough "private equity" to do the deal, but
instead, merely refinanced the company debt after buying from the Forrests.
This meant that Brushy was paying off the bank loan and also paying off the
Hadley investment, and seems to have been so badly mismanaged that it was
suddenly unable to pay the bank, when it might have instead cut costs,
retreated from its expansion into PA and the west coast, downsized its
workforce and/or facilities, and engaged other "survival tactics" long ago
that would be less disastrous than being forced into receivership over
defaulting on a secured bank loan in  a year when capital is still as close
to "free" as it has ever been in our lifetimes (look at the 10-year T-Bill
yield - we have climbed back up to only the 1954-equivalent level from the
historical low of 1.385 on 7/5/2016).

So, the "private equity" guys from Hadley in Chicago drove Brushy straight
into a ditch after 40+ years of being run successfully by a pair of former
school teachers who lacked backgrounds in finance, management, or business
planning

The bank is very likely to liquidate tangible assets for whatever it can
get, take its losses, and move on.  Doubtful a bank wants to try to run a
mail-order bee supply business - they have a hard enough time playing that
trick with simpler businesses like hotels and restaurants.

"Brushy Mountain borrowed $6.9 million in the loans from Enterprise in 2014
and made its scheduled payments until it defaulted this past Sept. 30 by
missing a payment, stated a complaint filed by Enterprise with the motion
for a receiver on Nov. 16.... defaulted on an unpaid balance of more than
$4.3 million..."

https://www.journalpatriot.com/news/brushy-mtn-bee-farm-closed-in-receiversh
ip/article_c0c88f0c-f7cb-11e8-adac-4bfc157f9d5f.html

https://tinyurl.com/ybs9t8oe

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