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World Commerce Reorganizing in Chapter 11

ORLANDO-The seven-year-old online global network developer for the fresh-cut commercial flowers and perishable foods industries is retaining its 40,000-sf office-warehouse quarters near Orlando International Airport as it strives to find new funding for its operations in eight countries.

By Alex Finkelstein | Updated on August 22, 2001

ORLANDO-World Commerce Online Inc. isn’t giving up on becoming the premier online network developer for the fresh-cut commercial flowers and perishable foods industries.

After seven losing years at the cash register, the locally based company is asking the U.S. Bankruptcy Court here for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code.

The court is expected to give World Commerce that protection and allow the firm to continue operations on a debtor-in-possession status until the company can complete a reorganization plan acceptable to creditors and the court.

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