Pilgrim’s Pride Corp., the nation’s largest poultry producer, has filed for Chapter 11 bankruptcy protection. The Pittsburg, Texas-based company acquired Atlanta-based Goldkist Inc. in 2006.
In a news release announcing the bankruptcy, Pilgrim’s Pride cited high feed costs, an oversupply of chicken and softening demand.
The company’s operations are expected to continue as normal throughout the bankruptcy proceedings. Pilgrim’s has 48,000 employees and operates 35 poultry processing plants.