FORT WORTH, Texas (AP) - Chicken producer Pilgrim's Pride Corp.
appears in Texas federal court for continued bankruptcy hearings.
The nation's largest chicken producer filed for Chapter 11
bankruptcy protection in December, saying it was hurt by volatile
feed costs and hobbled by its high debt.
The northeast Texas-based company had been unable to fulfill its
financial obligations and had a big interest payment due the week
it filed.
Pilgrim's Pride operates 14 facilities in Alabama.
During Tuesday's hearing, the court is expected to hear motions
on the company's decision to hire former president and chief
executive Clint Rivers, and former chief operating officer Robert
Wright as consultants.
Both men resigned last month.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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Pilgrim's Pride Bankruptcy Hearings
By:
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WKRG-TV
Published: January 27, 2009
Published: January 27, 2009
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