Flower delivery service FTD has filed for bankruptcy protection and is putting assets up for sale to cope with the company's massive debt.
FTD has been in business since 1910.
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Despite Monday's chapter 11 filing, USA Today reports FTD's delivery service will continue throughout the restructuring process.
According to the article, a private equity firm has agreed to buy FTD's North and Latin America-based flower delivery business for $95 million.
Bloomberg reports the purchase would include ProFlowers, which FTD bought in 2014.
The bankruptcy court would have to approve the purchase, which could be squashed if another entity makes a stronger bid.
CNN
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