Northern Beef Packers investor submits winning bid in bankruptcy - KSFY News - Sioux Falls, SD News, Weather, Sports

Northern Beef Packers investor submits winning bid in bankruptcy auction

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Aberdeen's troubled northern beef packers could soon have a new owner.

A federal judge accepted a bid for the company in bankruptcy court.

Even though the beef plant is at auction, some believe it brings hope to Aberdeen's future.

Since a federal judge accepted a bankruptcy bid for Northern Beef Packers, the troubled plant could soon be back up and running.  And that's good news to Julie Johnson, executive director of the community development organization, Absolutely!Aberdeen.

"I think it will be the most beneficial to our cattle producers. We do know that they still want to sell cattle here, as opposed to spending enormous sums of money transporting cattle," Johnson said.

And it was the finance company White Oak, one of Northern Beef Packers own investors, which submitted the winning bid of $39 million to the judge.

NBP attorney Rory King told us what the auction also means for all of those workers who not only lost their jobs but also their paychecks.

"I hope they'll be very assured, because they're going to get paid, that's agreed by everybody that the carve out will take care of the pre-petition and post-petition in the wage claims," King said.

Even though the fate of Northern Beef Packers is at auction in bankruptcy court, some still believe it's an asset to Aberdeen.

"Aberdeen's future is very bright, with or without this news today, Aberdeen's doing expansions all over, everywhere, already. This would be just more icing on the cake in offering more opportunities," Johnson said.

The final sale of the company is pending, providing White Oak meets all of the court's requirements.

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