Wild Coffee Market Pushes Trader Mercon Into Bankruptcy (2)

<-bsp-bb-link state="{"bbHref":"bbg://securities/1255975Z%20US%20Equity","_id":"0000018c-594e-d5be-a5ef-d97f839c0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Mercon Coffee Corp., a major global trader, filed for Chapter 11 bankruptcy in New York as supply disruptions, steep price moves and higher borrowing costs throughout the pandemic eroded the firm’s ability to pay its debt on time in full.

The Netherlands-based green coffee supplier listed liabilities of $357 million in its court <-bsp-bb-link state="{"bbHref":"bbg://screens/BBLS%20DD%202048138060076802","_id":"0000018c-594e-d5be-a5ef-d97f839d0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">documents. The bankruptcy filing lets Mercon keep operating while it pursues an “orderly sale of its assets.” The company has listed possessions worth a total $359 million.

Mercon has fallen victim to a series of events that followed the eruption of the Covid-19 pandemic. In ...