Meatingplace.com
By The Meatingplace Editors

Pilgrim’s Pride expects to file its reorganization plan by Sept. 30, on schedule, with the aim of emerging from bankruptcy protection by year end, a company spokesman said Thursday.

The poultry producer, reorganizing under Chapter 11 protection since December, last week requested an extension to Dec. 31 of its “exclusive” period for filing the plan in bankruptcy court without interference from competing plans.

“We still expect to file the plan of reorganization later this month and to exit from bankruptcy before the end of the calendar year,” Ray Atkinson, director of corporate communications for Pilgrim’s Pride, told Meatingplace.

“The extension simply grants us the ability to confirm the reorganization plan and emerge from bankruptcy without any distractions or delays that could be caused by the filing of a competing reorganization plan,” Atkinson said.

Pilgrim’s Pride is forging ahead with its reorganization amid rumors of a possible buyout by JBS S.A.