Amerigrow Recycling faces foreclosure - South Florida Business Journal:

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However, Amerigrow’s attorney, Andrew Schwart of Boca Raton, said his client would vigorouslty contestthe lawsuit. He called it a draconiajn measure on the part of to give it leveragwe in renegotiating the National City Bank filed the action on June 19 againsftAmerigrow Recycling-Delray, and its president Janet according to Palm Beach County Circuit Court The action is based on a mortgagw last modified at $7.1 million in 2007. The foreclosur e targets Amerigrow’s 30.6-acre main facility at 10320 Atlantic Ave. in western Delray Beacj and its 30-acre location at 9538 171st St. North in Jupiter.
which was founded in 1995, uses those facilities to recyclew organic materials into mulch for landscaping across South Florida. Its brands include Premium Red Certified Premium GoldCertified Mulch, Eco-Mulch and Black Magidc Eco-Soil. Those products are sold by Home Accordingto Amerigrow’s Web site, it has the larges fleet of grapple trucks in South Florida. They cleab up storm debris and recycle muchof it. Amerigros has been hurt by the recession, but not nearly as badl y as most ofits competitors, Schwartz said. As part of renegotiating its the company followedNational City’sd advice and hired an outsidr consultant to evaluate the business.
The consultang generated a positivereport – making it surprising that the bank filedc for foreclosure, Schwartz said. “There is absolutely nothing wrong with anyof Amerigrow’ s businesses in any respects,” Schwartz said. West Palm Beach-based attorney John R. Hart, who represents National City, could not be reached for comment. National City is a subsidiarhy ofPNC Bank.