(Feb. 3)

Teufel Nursery, a commercial grower with locations in Oregon, Washington and Idaho, has exited Chapter 11 bankruptcy protection seven months after seeking protection from its creditors, according to an article in the Portland Business Journal.

The Teufel family, which has owned the company for four generations, will retain control of the business in exchange for contributing $100,000 in new capital, according to the newspaper. All creditors will be repaid from the company’s ongoing proceeds.

The Portland, Ore.-based company, one of the largest wholesale nurseries and landscaping firms in the Pacific Northwest, said it was forced to file for bankruptcy protection last June when its lender, Textron Financial Corp.,  called in a note. Lawsuits were filed by both parties, but these have been dropped following a work-out plan developed by a mediator.

The company said it will continue to operate its growing operations and landscaping services, but on a reduced scale. In addition to its Portland facilities, Teufel operates nurseries and landscape businesses in Kent, Wash., and McCall, Idaho, serving both residential and commercial customers.