Zacky Farms owners decide to not buy back company
FRESNO, Calif. (KFSN) -- The family which created Zacky Farms is now backing off its plan to try and save the poultry producer from bankruptcy.
The Zacky Family said they will not purchase Fresno-based business in an upcoming bankruptcy auction.
The family trust provided a $71 million loan which kept the poultry processor afloat after its October bankruptcy filing.
Last week the trust submitted the winning bid to buy the company, however, Zacky will ask the court to go with the backup bid instead, the Pitman Family Farms of Sanger, which pledged up to $32 million to purchase the company's assets.
Pitman does not plan to rehire Zacky's 1500 workers in operations in Fresno, Tulare, Kings, San Joaquin and Los Angeles counties, according to its bid.
fresno, fresno county, local
- USC defeats Fresno St 45-20 in Las Vegas Bowl 36 min ago
- Teen who was shot at Colorado school dies 16 min ago
- Madera family files claim against city of Los Angeles
- Judge orders hospital to keep teen on support
- Fresno Poverello House in need of toys for kids
- Fresno State program gets students interested in STEM classes
- Parlier students get iPad Airs
- Ryann Jones found guilty of second degree murder
- Royal Purple Las Vegas Bowl: Chance for 'Dogs to break bowl...
- Fire burns Three Rivers landmark
- Valley stores open extra hour for holiday rush
- Senator Harry Reid in hospital for observation
- Man charged in Elbow Room fight pleads not guilty
- Obama: 2014 can be breakthrough year for US
Most Viewed StoriesMost Viewed Photos