Closing scheduled on sale of failed beef plant - KSFY News - Sioux Falls, SD News, Weather, Sports

Closing scheduled on sale of failed beef plant

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ABERDEEN, S.D. (AP) - A bankruptcy judge has set a closing date for the sale of a failed South Dakota beef packing plant.

A  San Francisco-based investment banking firm still holds the top bid of $44.4 million for Northern Beef Packers, the Aberdeen plant that filed for bankruptcy last summer because it lacked money to buy cattle for slaughter.

Judge Charles Nail set April 4 as the deadline to close on the sale.

The Aberdeen American News reports  that if White Oak Global Advisors cannot finalize the sale, the closing deadline for the other company that submitted a lower bid at the bankruptcy auction will be April 11.

White Oak has not said what it plans to do with the plant.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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