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NEBRASKA TURKEY PLANT FILES BANKRUPTCY
Mar. 6, 2013
BrownfieldAgNews reports:
A south-central Nebraska turkey processing plant is in Chapter 7 involuntary bankruptcy and has ceased operation.
Midwest Meat Packing of Gibbon reportedly has a total debt of $4.4 million and assets of around $2.5 million. Court documents said the company had not paid Shinn's Turkey Track of Dunning $1.45 million for turkeys.
According to one report, the electricity to the plant was cut off from December 31st to January 28th for lack of payment. It was restored to protect frozen turkeys in the plant.
The previous owners shut the plant down in December of 2008, citing high feed and fuel costs. New York-based AMSA International investments reopened it in 2010 after getting a $100,000 loan from Buffalo County.
It is not known how many workers have been affected, but a 2012 press release cited 50 employees.
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