Where did all the turkeys go?
That's the question attorneys for the buyer of bankrupt Zacky Farms LLC is asking, amid claims that one of the nation's largest turkey and chicken processors has been rushing to dump the bulk of its inventory of frozen turkeys – and speed up getting paid for it – prior to a rival completing its purchase of the nearly 100-year-old California family business.
Zacky Farms filed for Chapter 11 bankruptcy protection last October, blaming its economic woes in part on high feed costs following the worst drought in half a century.
Attorneys for Pitman Family Farms filed papers on Tuesday with the U.S. District Bankruptcy Court in Sacramento in which they claimed Zacky Farms has sped up the sale and delivery of more than $1 million worth of whole turkey inventory to Stater Bros. Markets, a private grocery retailer based in Southern California.
To read the rest of the story, please go to: Reuters
