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Pilgrim's Pride Corporation Bankruptcy Case Study

Sponsored By CRG Partners Group, LLC

Topics:: Finance & Risk Management; Financial Crisis; Professional Services

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Abstract:: Pilgrim's Pride Corporation is an $8.0 billion in revenue integrated poultry producer that filed for Chapter 11 bankruptcy protection on December 1, 2008. The Chapter 11 Cases were heard in the Northern District of Texas by the Honorable D. Michael Lynn. This case study provides an overview of the following:

* The events that led to the bankruptcy filing - primarily a deterioration of poultry pricing combined with an increase in input costs and the Company's lack of liquidity to withstand the downturn.

* Preparations for filing and activities during bankruptcy protection, including its operational and financial restructuring.

* The Company's emergence from bankruptcy, facilitated by its strategic partnership with JBS USA Holdings, Inc.

Pilgrim's Pride successfully emerged from bankruptcy protection on December 28, 2009, recapitalized its senior bank debt, and paid creditors in full, in cash, with existing equity, retaining a considerable portion of the reorganized company.

DETAILS

Sponsored by: CRG Partners Group, LLC

Released: January 04, 2010

Length: 25 pages

Format: PDF (346 kb)

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