Closing Scheduled on Sale of Failed Beef Plant

March 24, 2014 04:00 AM
 

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 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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