Atlanta Business Chronicle
Date: Thursday, October 20, 2011, 10:27am EDT
One of Georgia's oldest companies, chicken producer Cagle's Inc. , has filed for Chapter 11 protection.
The Atlanta-based company (AMEX: CGL-A), which has been in business for more than 60 years, said it will attempt to restructure its debt.
"Over the past few years, the poultry industry has been under severe stress due to historically high corn and soybean meal prices coupled with sagging chicken prices caused by an oversupply of broilers. As a result, Cagle’s has incurred significant operating losses that have depleted its liquidity and working capital position," the company said.Allen Family Foods,Seeks Bankruptcy Protection
By Dawn McCarty -
Allen Family Foods Inc., a chicken producer based in Seaford,Delaware, filed for bankruptcy protection citing changes in the market for poultry.
The company listed both assets and debt in the range of $50 million to $100 million in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Affiliates Allen’s Hatchery and JCR Enterprises also sought protection.
“A recent lag in the industry market has forced the company to reposition the business by reducing volume and diversifying its product line,” Vice President of Finance Brian Hildreth said in court papers.Chicken processing plant files to sell assetsCourier Lee News Service
The owners of a closed chicken processing plant in Charles City have filed a motion in bankruptcy court to sell all its assets free and clear of liens.
Custom Poultry Processing LLC is proposing that an auction to sell its assets take place at 9 a.m. on May 26 in the courtroom for U.S. Bankruptcy Court for the Northern District of Iowa in Cedar Rapids.Delaware Poultry Producer, Townsend files for bankruptcy
24 Dec 2010
Maybe, just maybe, they really don't care. After all, if food gets too expensive, they'll just vote themselves a new cost of living increase. I mean, we wouldn't want them scraping by on their measly $174,000 (congress) , $193,000 (congressional leadership) or $223,000 (Speaker of the House).