Closing scheduled on sale of failed beef plant

3/22/2014 7:45 AM
By Associated Press

ABERDEEN, S.D. (AP) — A bankruptcy judge has set a closing date for the sale of a failed South Dakota beef packing plant.

A San Francisco-based investment banking firm still holds the top bid of $44.4 million for Northern Beef Packers, the Aberdeen plant that filed for bankruptcy last summer because it lacked money to buy cattle for slaughter.

Judge Charles Nail set April 4 as the deadline to close on the sale.

The Aberdeen American News reports (http://bit.ly/1iNMLfz) that if White Oak Global Advisors cannot finalize the sale, the closing deadline for the other company that submitted a lower bid at the bankruptcy auction will be April 11.

White Oak has not said what it plans to do with the plant.

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Information from: Aberdeen American News, http://www.aberdeennews.com


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7/30/2014 | Last Updated: 8:00 AM