Pilgrims Pride Corp. in court Tuesday
Published 11:50 am Tuesday, January 27, 2009
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.
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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.