Teufel Nursery
 |
|
| Type | Private |
|---|---|
| Industry | Nursery |
| Founded | 1890 |
| Headquarters | Portland, Oregon USA |
| Key people | Larry Teufel, President Don Hauenstein, Finance Executive[1] Linda Teufel, Vice President[2] |
| Employees | ~200 (2010) |
| Website | teufel.com |
Teufel Nursery is a family-owned landscaping company based in Portland, Oregon, United States. Founded in 1890, the company maintains existing and installs new landscaping for commercial, government, and residential customers. The company has about 200 employees.[3]
[edit] History
Gustav Teufel founded the nursery company in 1890 in the west hills of Portland. In September 1997 the Portland Business Journal reported that Terry Thornton, a former sales manager of the "Wholesale Horticultural Supplies Division" of Teufel Nurseries, was installed as the 62nd president of the Oregon Association of Nurserymen (now called the Oregon Association of Nurseries),[4] a post he has since left.[5] In March 2007 The Oregonian reported that Teufel Nursery, in partnership with Pivot Landscape Architecture and Cistus Nursery, installed a green roof on the M Financial Center in the Pearl District of downtown Portland in 2009.
The company filed for Chapter 11 bankruptcy protection in June 2009 after the drop in the housing market and the recession reduced revenues from a high of $45 million annually in 2006 to around $32 million projected for 2009.[6] After filing in order to keep lenders from forcing payments, the company has been impacted by the credit crisis and has been unable to find a lender to complete the restructuring as of August 2009. Teufel Nursery and its CFO have also suffered allegations of giving fraudulent financial information to its lender and inflating revenues in order to borrow additional funds.[6] On February 1, 2010, Teufel nursery won court and creditor approval for its reorganization. The reorganization plan repays both secured and unsecured creditors in full from proceeds from Teufel's on-going operations. All lawsuits will be dropped.[7]
[edit] Operations
Teufel's is currently owned and managed by Gustav's great grandchildren Larry, Linda and Tina Teufel. Significant customers of the company have included Microsoft, the Portland World Trade Center,[8] and the White House.[9] The Teufel family also owns and operates Teufel Holly Farms, Inc. which sells holly and evergreens during the winter season and supplies holiday wreaths and garlands for the annual Oregon Episcopal School Christmas Wreath & Holiday Greens Sale.[10][11]
[edit] References
- ^ "Teufel Nursery Inc. Overview". Portland Business Journal. http://portland.bizjournals.com/portland/gen/Teufel_Nursery_Inc_422A58207D114168A08B180C9806C3C2.html. Retrieved May 13, 2007.[dead link]
- ^ "Neighborhood Roundup". The Oregonian. http://www.oregonlive.com/metrowest/oregonian/index.ssf?/base/metro_west_news/1173569106119050.xml&coll=7&thispage=6. Retrieved May 13, 2007.
- ^ Mortenson, Eric (February 4, 2010). "Teufel Nursery clears bankruptcy, paying off debts". The Oregonian. http://www.oregonlive.com/business/index.ssf/2010/02/teufel_nursery_clears_bankrupt.html. Retrieved 5 February 2010.
- ^ "Oregon Nurserymen name president". September 30, 1997. http://portland.bizjournals.com/portland/stories/1997/09/29/daily13.html.
- ^ Oregon Association of Nurseries
- ^ a b Manning, Jeff (August 13, 2009). "Teufel Nursery struggles to secure new financing". The Oregonian. http://www.oregonlive.com/business/index.ssf/2009/08/tueful_nursery_struggles_to_se.html. Retrieved 2009-08-14.
- ^ Culverwell, Wendy (February 1, 2010). "Teufel Nursery exits bankruptcy". Portland Business Journal. http://portland.bizjournals.com/portland/stories/2010/02/01/daily9.html.
- ^ "About Teufel Nursery". Teufel Nursery. Archived from the original on February 8, 2007. http://web.archive.org/web/20070208115514/http://www.teufel.com/CustomerCare/About.aspx. Retrieved May 12, 2007.
- ^ Green party takes over the White House
- ^ "Teufel Holly Farms, Inc.". Archived from the original on October 20, 2007. http://web.archive.org/web/20071020014700/http://www.teufelhollyfarms.com/index.php. Retrieved May 12, 2007.
- ^ OES - Christmas Wreath & Holiday Green Sale
