Northern Beef Sets $12.75 Million Minimum Auction Price21 October 2013
US - The beleaguered South Dakota beef processor, Northern Beef Packers has set a minimum price for the plant when it is put up for sale on 5 December.
The lawyers acting for the bankrupt plant have set the price at $12.75 million according to a report in International Venture Capital Post.
The terms of the sale that have been set in the federal bankruptcy court will include all the property, fixtures, improvements, machinery, equipment and supplies for the beef packing plant.
Northern Beef had invested $115 million in the plant which opened on a limited basis in 2012 after years of delays.
The processor filed for Chapter 11 bankruptcy earlier this year.
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