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Minnesota-based organic food and feed supplier Pipeline Foods LLC on Thursday secured approval to move forward on a fast-tracked auction and sale of certain property in Iowa and to work with junior creditors to sell off the rest of its assets.
FRIDLEY, Minn., July 9, 2021 /PRNewswire/ -- Pipeline Foods, LLC today announced that it and certain subsidiaries and affiliates (collectively, the "Company" or "Pipeline Foods") have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). Details on the Company's Chapter 11 process and go-forward strategy are as follows: Continued Operations: The Company will be filing customary motions with the Bankruptcy Court that will authorize, upon Bankruptcy Court approval, the Company's a...