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Jul. 25, 2013 KELO TV reports: Problems for an Aberdeen beef processing plant continue. After announcing layoffs of more than 100 workers in April, Northern Beef Packers told employees they'd have to wait for their paychecks last week. Now it's filed for Chapter 11 bankruptcy protection. According to an NBP statement, the company will stay open while restructuring its debt and operations. A plan will have to be approved by the court. Through that statement, NBP's CEO David Palmer said, "The beef packing industry has been experiencing some of its worst processing margins in recent decades, causing expected start-up costs to be much higher than anticipated." With uncertainty surrounding the Aberdeen plant, the business community is watching carefully. "Northern Beef Packers is a large project for Aberdeen and the region and we are concerned by this," Aberdeen Development Corporation's Jim Barringer said. Barringer says he's confident the plant will still be an important part of the business community in the future. "I can't say by whom and I can't say when and I can't say to what extent it will be operated, whether it'll be at the capacity of 1,500 head a day or more or less but it is a plant that in the long run is going to be operational here," Barringer said. Barringer says there's been too much money spent on the state-of-the-art facility for it to sit idle. Julie Johnson of Absolutely! Aberdeen agrees. But she says families have already been affected by the company's financial problems. She's hoping Aberdeen's strong economy overall will help. "There's a lot of other opportunity going on, a lot of other expansions, a lot of other folks hiring all kinds of skill sets across the board," Johnson said. Tweet |
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