Kane Beef On The Chopping Block
October 16, 2018 | 1 min to read
Kane Beef is in receivership, based on documents obtained by 6 Investigates on Monday.
The beef processor owes millions to cattle ranchers and other creditors, Richard Schmidt, the court-ordered receiver, says.
Schmidt, a former federal bankruptcy judge, stressed the difference between receivership and bankruptcy. He notes that receivership allows time to cut costs, retain employees, maintain operations and, go to market for a suitable buyer or investor.
To read the rest of the story, please go to: KRISTV