Sun Meat, one of Japan’s largest meat wholesalers, has filed for bankruptcy.
Go deeper with GlobalData
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.
