Pure Prairie Poultry Inc., the owner of a chicken processing plant in Charles City, has filed for Chapter 11 bankruptcy in Minnesota, citing significant financial difficulties. According to the company’s court filing, it owes hundreds of creditors between $100 million and $500 million, with assets amounting to only between $50 million and $100 million.
Among the creditors is the City of Charles City, which is owed $507,151.56. Other debtors include entities in several states, such as Illinois, Indiana, Georgia, Minnesota, Wisconsin, Arkansas, and Florida.
Pure Prairie Poultry purchased the processing plant from Simply Essentials in 2021, with plans to create around 400 jobs by 2024. The plant had been shut down since 2019 prior to the acquisition. However, financial troubles have now forced the company to seek bankruptcy protection, leaving the future of the plant and its promised jobs uncertain.
