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Chicken producer Pilgrim's Pride Corp. said Thursday a court has given approval for the company to ask shareholders to vote on its sale to Brazilian beef producer JBS SA.
Pilgrim's Pride Corp. said Thursday that the Federal Trade Commission and Department of Justice have cleared the way for its deal with Brazilian beef producer JBS SA, which would help pull the chicken producer out of bankruptcy.
Chicken producer Pilgrim's Pride Corp. said Friday it has submitted a bankruptcy reorganization plan to a judge, the first step to seek court approval for a sale of the company to Brazilian beef producer JBS SA.
Brazilian beef producer JBS SA is set to become the world's largest meat maker with two deals announced Wednesday, one that takes struggling Texas chicken producer Pilgrim's Pride Corp. out of bankruptcy protection.
Media reports say beleaguered chicken producer Pilgrim's Pride Corp. is nearing a sale to Brazilian beef producer JBS SA for $2 billion.
Pilgrim's Pride Corp. said Friday it would idle two chicken processing plants that employ almost 1,000 people in Alabama and Georgia as it cuts cost while trying to emerge from bankruptcy protection.
The city of Clinton sued Pilgrim's Pride Corp. for $28.5 million in federal court on Monday, accusing the poultry processor of potentially turning the city into a ghost town by idling its plant there.
Chicken producer Pilgrim's Pride Corp., which has filed for Chapter 11 bankruptcy protection, said Thursday its second-quarter loss narrowed as costs declined in its chicken business.
Pilgrim's Pride will start the procedures for selling two processing plants slated to shut down, under an agreement reached through mediation with opponents of the closures.
Poultry producer Pilgrim's Pride Corp. said Monday it will close a chicken processing plant in Dalton, Ga., which employs 280 people, within 60 days.
A Cuban-born chicken farmer who protested after Pilgrim's Pride decided to cancel some Florida growers' contracts testified Friday that the company discriminated and retaliated against him.
Pilgrim's Pride Corp. said Friday it will cut 3,000 jobs, or about 7 percent of its U.S. work force, as it shuts operations at three of its 32 chicken processing plants.
A bankruptcy judge set a hearing next month to determine whether Pilgrim's Pride discriminated against chicken growers — many Hispanic, others disgruntled — when it canceled their contracts.
Pilgrim's Pride Corp., which recently filed for Chapter 11 bankruptcy protection, said Tuesday its President and Chief Executive Clint Rivers has resigned.
Lonnie "Bo" Pilgrim drives a few miles down U.S. Hwy. 271 some Saturdays, buys a $3.99 oatmeal breakfast at Herschel's Restaurant and hands out $20 bills along with "Jesus Saves" pamphlets.
The nation's largest chicken producer, Pilgrim's Pride, filed for Chapter 11 bankruptcy protection on Monday. Here's a look at the top five players in the chicken industry as of the middle of 2008:
Pilgrim's Pride Corp. filed for Chapter 11 bankruptcy protection on Monday, hurt like other meat producers by volatile feed prices and slumping demand but also hobbled by an unmanageable debt load.
Troubled chicken processor Pilgrim's Pride Corp. said Wednesday it reached an agreement with its lenders to extend its credit lines until Monday.
Pilgrim's Pride Corp., the nation's largest chicken producer, said Monday it has reached another agreement to temporarily extend its credit facilities through the end of November.
Pilgrim's Pride Corp. said Thursday it expects to report a "significant loss" in its fiscal fourth quarter and is so sagged by debt it may not meet the terms of its loan agreements. Here's a look at the woes at the market-leading chicken producer:
The nation's largest chicken producer, Pilgrim's Pride Corp., said Thursday that high animal feed costs will force it to post a "significant loss" in its fiscal fourth quarter and that it was trying to negotiate new terms with its lenders.
Trading in shares of Pilgrim's Pride Corp., the nation's largest chicken producer, was halted late Wednesday after the stock fell 38 percent and saw volume at more than six times its normal level.
Pilgrim's Pride Corp., the nation's largest chicken producer, said Tuesday that it lost $52.8 million in its third quarter because of record-high grain costs that have made animal feed far more expensive and prices charged to consumers aren't rising fast enough because of an oversupply.
Pilgrim's Pride Corp., the nation's largest chicken producer, said Monday its second-quarter loss widened from a year ago as it paid more for feed and took a restructuring charge.
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