Australia: 16 ha greenhouse on hold after company goes into administration
Maria's Farm Veggies at Williamtown, north of Newcastle, was to include a glasshouse covering 16 hectares, producing 15,000 tonnes of vegetables each year.
But devastating floods that hit the Hunter region in January have damaged large parts of the building project.
The business' major shareholder Cor Disselkoen said the only option was to place the company into voluntary administration.
"We got enormous damage of material and the main thing is that we are covered by insurance," he said.
"But insurance companies are quite slow and that causes a financial problem."
Read more at ABC News