Nearly all of the property owned by bankrupt poultry firm Cooks Enterprise have been bought by Bel’s Poultry, an affiliate of Pitman Household Farms.
The supply was valued at $7.1 million and was permitted by U.S. Chapter Court docket Decide Karen Owens within the District of Delaware, in accordance to a report from Arkansas Enterprise.
Based in 2019, Cooks Enterprise specialised within the manufacturing and processing of pasture-raised, slow-growth chickens. It operated vegetation in the Oklahoma cities of Jay and Tahlequah, but additionally had operations in Arkansas.
Nevertheless, in December 2023, Cooks Enterprise staff had been notified through a letter that the corporate was “unable to discover a answer to the firm’s monetary difficulties and are left with no selection however to close down the corporate and its amenities.”
Cooks Enterprise would go on to file for Chapter 7 chapter on April 19. A chapter 7 chapter doesn’t contain the submitting of a plan of reimbursement, however somewhat, the chapter trustee gathers and sells the debtor’s non-exempt property and makes use of the proceeds of such property to pay holders of collectors in accordance with the provisions of the chapter code.
Pitman Household Farms and Bel’s Poultry are each headquartered in Sanger, California. Pitman’s key broiler model is Mary’s Chickens. Pitman Household Farms expanded its operations in 2018 with the acquisition of Utah-based turkey producer Norbest.
