Northern Beef Packers looking for sale, not reorganization
Northern Beef Packers, the Aberdeen, S.D., beef processor that filed for bankruptcy protection last week, is set on finding a buyer rather than reorganizing. The company has been plagued by financial woes through the plant construction and launch, has been unable to find the financial backing to ramp up to full production, reports the Associated Press.
The company asked the court in Sioux Falls on Thursday to allow it to hire investment banking firm Lincoln International, which is now recommending a sale.