NEWS
AgFeed Seeks Bankruptcy Protection
Mon Jul 15, 2013 01:19 PM CDT

(Dow Jones) -- Hog producer AgFeed Industries Inc. (FEED) filed for Chapter 11 bankruptcy protection on Monday after agreeing to wind down its supply contract with its main U.S. customer, Hormel Foods Corp. (HRL), which purchases weanling pigs and hogs from the company.

AgFeed plans to sell its U.S. operations while under Chapter 11 protection. It also is looking for a buyer for its Chinese units, which aren't included in the U.S. bankruptcy case.

The company has lined up a $79 million leading bid from Carlyle, Ill., hog production network the Maschhoffs LLC for most of its U.S. assets, according ...

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