October 9, 2012
Updated Oct 9, 2012 at 6:31 PM PDT
One of the largest employers in the central valley is filing for bankruptcy. Fresno-based Zacky Farms is now planning to sell itself, to pay off creditors.
Citing $50 to $100-million in debt, the poultry giant filed bankruptcy papers Monday in Sacramento. The cause of those debts, at least in in part, is the rapidly rising costs for corn and soybean meal used to feed the company's livestock.
Zacky is one of the largest turkey producers in the United States. The company employs about 1500 people in Fresno, Tulare, Kings, San Joaquin, and Los Angeles counties.
TXT 24
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