NutraCea Rejects Headquarters Lease and Moves to More Cost Efficient Offices
NutraCea filed a voluntary petition under Chapter 11 on November 10, 2009 in order to restructure its operations under court supervised protection. That filing did not include any of the Company's subsidiaries.
4 Dec 2009 --- NutraCea, a world leader in stabilized rice bran (SRB) nutrient research and technology, announced that its motion to reject its current headquarters lease and enter into a new less expensive headquarters lease was approved on November 30, 2009 by the U.S. Bankruptcy Court for the District of Arizona.
Chief Executive Officer, W. John Short said, "We are pleased with the Court's decision to allow us to quickly move to more cost efficient headquarters. Our new space is approximately 75% smaller and over 80% less expensive. This new space will allow us to reduce our headquarters' rent by over $100,000 per month and is just one step in the process of reducing our corporate overhead."
Effective Monday, December 7, 2009 NutraCea's new headquarters' address will be 6720 North Scottsdale Road, Suite 390, Scottsdale, AZ 85253.
NutraCea filed a voluntary petition under Chapter 11 on November 10, 2009 in order to restructure its operations under court supervised protection. That filing did not include any of the Company's subsidiaries.
