Unpaid bills mounting at new beef-processing plant - KSFY News - Sioux Falls, SD News, Weather, Sports

Unpaid bills mounting at new beef-processing plant

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ABERDEEN, S.D. (AP) - Unpaid bills are mounting at a beef-processing plant in northeastern South Dakota that is scheduled to open this year.

Court records show that contractors have filed liens for more than $1.3 million against Northern Beef Packers since Jan. 1. About $1.2 million of that has not been paid.

Documents show the plant owes more than $10 million from previous years.

David Palmer, company CEO and president, says the plant does not have enough money to pay its bills because it has not sold all of its bonds and hasn't secured financing from other sources.

Palmer says the best way to pay the contractors is to get the plant open. He says that until then he knows he is going to have unhappy creditors.





(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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