Bartels Packing, a Eugene, Ore. Beef processor that shut down its operations earlier this month, said that it expects to pay off its debts through liquidation of its assets. The company had approximately $8.3 million in debt, including $4.6 million to cattle suppliers, reports the Capital Press.
According to court filings, the company’s assets are worth between $13.5 and $14 million, with $8 million in inventory, $300,000 in accounts receivable and more than $5.5 million in fixed assets, such as equipment.