Cherry Growers Inc. will be able to continue operating under chapter 11 protection while it reorganizes its business operations, U.S. Bankruptcy Judge Scott Dales ruled on Friday, MLive.com reported. The order came after the processor and its bankers assured Dales that it would not burn through cash that may be owed to growers under a federal law that prevents processors from defaulting on their debts to growers. Headquartered in Grawn, Mich., near Traverse City, CGI is a 78-year-old cooperative in which ownership is shared by 53 Michigan cherry and apple growers. The company, which processes cherries and applies, employs about 75 workers.
