SCOOP: Herbl first defaulted to lender in November, Lawsuit

Distributor Herbl, which went into receivership this month, first defaulted on its obligations to East West Bank in November, the lender alleges in a lawsuit filed last week. The California distro collapsed this month as unpaid brands sought other partners.

East West’s lawsuit provides the bank's view of Herbl’s struggle to remain solvent at the center of California's troubled supply chain. It also names the receiver it requests to oversee what is believed to be the largest such case in industry history. Herbl has not commented publicly on the situation.

According . . .