Sun Meat , one of Japan’s largest meat wholesalers, has filed for bankruptcy. The group has confessed to overwhelming debts amounting to US$191m. It is blaming its troubles at least partly on the BSE outbreak in Japan, as beef accounts for approximately 70% of its business.
The group has confessed to overwhelming debts amounting to US$191m. It is blaming its troubles at least partly on the BSE outbreak in Japan, as beef accounts for approximately 70% of its business.
The bankruptcy is likely to impact producers outside Japan. For example, Sun Meat currently sources considerable amounts of beef from Australian suppliers.
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