June 1, 2009

Bid for Pilgrim's Pride Arkansas plant dropped

Investors in the El Dorado Poultry Co. are dropping their purchase efforts for the El Dorado, Arkansas, chicken processing facility owned by Pilgrim's Pride.

This marks the end of months of efforts to retain hundreds of job in the area.

Negotiations had been difficult, but the bankruptcy judge had sent the discussions to a mediator last week, and gave the companies two weeks' time to settle the matter.

Pilgrim's Pride closed the plant earlier in May.