A US court has approved Pierre Foods’ reorganisation plan, meaning that the company will now emerge from bankruptcy.
Go deeper with GlobalData
Under the plan, funds managed by Oaktree Capital Management will take majority ownership of the US food group.
Oaktree is Pierre’s single largest creditor and provider of the company’s debtor-in-possession credit facility.
“Pierre Foods is poised to emerge with the renewed ability to operate profitably throughout the continued downturn of the economic cycle and beyond,” the company said in a statement yesterday (10 December).
“We are pleased to continue working with Oaktree and appreciate their continued commitment to the company.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
