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Pilgrams Pride Files Voluntary Chapter 11
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<blockquote data-quote="Auburn_Ag" data-source="post: 601898" data-attributes="member: 4333"><p>I hear you loud and clear. The good news about all of this, if there is any, is that fact that you are not the only one. I am hopeing that where you do your banking they have other PP grower loans. If that be the case, trust me they will work with you. The banks do not want these farms.</p><p>1. They are not in the bussiness to own and run poultry farms and raising chicken.</p><p>2. If there are no contract, who are they going to sale the farms to.</p><p>3. Also with banks tighting their belts for requirments for downpayment, its going to be even harder for them to sale acquired property.</p><p></p><p>Now this is not to say it wont happen at all, because it very well may happen to a few, but not to everyone that grows for PPC.</p><p></p><p>Chapter 11 is not the end of the world for PPC and through Chapter 11 HOPEFULY they can get their stuff together and get back on track. Times are hard and I am afraid they may get harder. I understand your situation because I have friends and family that are in the same position as you. Best of luck you to and your family.</p></blockquote><p></p>
[QUOTE="Auburn_Ag, post: 601898, member: 4333"] I hear you loud and clear. The good news about all of this, if there is any, is that fact that you are not the only one. I am hopeing that where you do your banking they have other PP grower loans. If that be the case, trust me they will work with you. The banks do not want these farms. 1. They are not in the bussiness to own and run poultry farms and raising chicken. 2. If there are no contract, who are they going to sale the farms to. 3. Also with banks tighting their belts for requirments for downpayment, its going to be even harder for them to sale acquired property. Now this is not to say it wont happen at all, because it very well may happen to a few, but not to everyone that grows for PPC. Chapter 11 is not the end of the world for PPC and through Chapter 11 HOPEFULY they can get their stuff together and get back on track. Times are hard and I am afraid they may get harder. I understand your situation because I have friends and family that are in the same position as you. Best of luck you to and your family. [/QUOTE]
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Pilgrams Pride Files Voluntary Chapter 11
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