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UPDATE 1: BFG Supply Prepares Chapter 11 Filing

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✨ Summary by AI at Octus
Pamplona Capital-backed BFG Supply is preparing a bankruptcy filing and in-court sales process to pay down creditors, according to sources. The horticulture distributor is working with Reflect Advisors and Goodwin on a restructuring that could include a liquidation, either through Chapter 11 or out of court. Amid severe financial strain, BFG is laying off staff and declining new orders. Key lender Ares Capital Corp., which holds first-lien debt marked at 42.35% of cost and placed on nonaccrual in October 2025, is expected to receive sales proceeds. The move follows a $300 million recapitalization completed late last year.

Reporting: Harvard Zhang, Patrick Fitzgerald, Geoff Burrows

Thu Aug 06, 2026 06:09 PM ET: BFG Supply is preparing to file for chapter 11 in the coming weeks, according to sources. The greenery company is expected to conduct a sales process in court with proceeds used to pay creditors, including lender Ares Management, the sources said.

The Pamplona-backed horticulture company is working with Reflect Advisors, they added.

BFG Supply, Pamplona, Reflect and Ares did not respond to requests for comment.

Original Story 11:32 a.m. UTC on Aug. 6, 2026

Horticulture Distributor BFG Supply Is Set to Restructure, Potentially Liquidate

Reporting: Patrick Fitzgerald, Harvard Zhang

BFG Supply, a privately held distributor to the green industry, including professional horticulture, lawn and garden, and controlled environment agriculture, is working with Goodwin as legal advisor on a restructuring, including a potential liquidation, according to sources.

The aforementioned liquidation may be implemented on an out-of-court basis or through a bankruptcy filing, the sources said. Plans are not final and could change, the sources cautioned.

The company is said to be laying off employees and declining new orders amid severe financial difficulties, sources said.

Ares is a significant lender to the company, they added. Ares Capital Corp. BDC holds first lien debt in the company, also known as Bamboo Purchaser, maturing December 2029. As of late July, Ares had the fair value as a percentage of cost marked at 42.35%, according to Octus’ BDC Database. Ares’ holding was added to nonaccrual status in October 2025.

Late last year, BFG Supply completed a $300 million recapitalization and new-money transaction, during which it was advised by Piper Sandler. Pamplona Capital Management acquired BFG Supply from Incline Equity Partners in late 2021.

BFG Supply and Pamplona did not respond to requests for comment. Ares and Goodwin declined to comment.

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