Pilgrim’s Pride Bankruptcy Hearings

Alabama Bankruptcy Pilgrim's Pride operates 14 facilities in Alabama.

by Associated Press

Published: Tue, January 27, 2009 - 12:01 pm CST

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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BamaTuba77 Says:

Wed, Jan 28, 2009 at 7:52 am

If the CEO and COO run a company into bankruptcy - then why pay them Big Bucks to come back and continue to run the company at the expense of the suppliers and producers who will be paid pennies of what they are owed ???

Razorsharp Says:

Tue, Jan 27, 2009 at 2:39 pm

You are correct…this wil never stop. Corporate greed is causing more damage to this county’s economy than you could possibly imagine…and the government keeps bailing them out…and the taxpayers are footing the bill.

butterflykisser101 Says:

Tue, Jan 27, 2009 at 12:14 pm

It’s never gonna stop.