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Allen Family Foods announced Thursday it is filing for Chapter 11 bankruptcy protection and plans to sell most of its assets to an affiliate of Mountaire Farms of Delaware.
Allen, based in Seaford, said it planned to complete the sale to Seaford Milling Co. (the Mountaire affiliate) within 45 days. But it noted in a statement that an auction required by bankruptcy court may produce a higher bidder.
The company plans to retain its grow-out farms and related farmland.
Allen’s statement said, “The poultry industry has been under severe stress due to historically high corn prices, caused primarily by an oversupply of broilers. As a result, the company has incurred significant operating losses.”
The company has been in operation for more than 92 years.
The company's website says it was founded in 1919 by Charles C. (Clarence) and Nellie G. Allen and now employs about 2,400 people in Delaware, Maryland and North Carolina.
10 comments:
This company was one of the best at one time but in the last ten years has been drivien into the ground by very poor corporate leaders in operations, finance, human resources and sales. It was just a matter of time with them calling the shots. Poor managers and unethical people always cause a company heartache in the long run. Don't hire any of them either if you know what's good for you.
Another small local company bankrupt and run out by Big Agri Business.
7:48 How true! I was a major supplier representative who delt with the Corporate office in Seaford, Chick Allen really had this company going in the right direction but brought on board some really unqualified senior management which started their demise. I hope some major integrated firm takes over the plants in Harbeson, DE and Cordova, MD. for the sake of the 2,400 employees. The Hurlock, MD. plant was taken over by a poultry firm and continues to operate. Oh how sad as Allen's was actually started slightly before Perdue.
9:55 What have you been smoking?
Chick Allen IS the reason they went bankrupt.
Who do you think hired all those "unqualified" managers?
go back to sleep.
I know some growers for Allen who were always satified with their contracts. I can't say the same for alot Perdue and Mountaire growers who are quite unhappy with their contracts and have been for years but are afraid to speak up because they will lose their contracts. I've been hearing for years how those 2 companies want to run out Allen so they can force growers to not have a choice on who to go with.
There has been some justice department hearings on this.
On more thing I would like if any growers are out there reading maybe they could address this I've been hearing for years now-Perdue's growers contract is written in such a way, with some kind of confidentialy clause that the grower isn't even allowed to have a lawyer check it out for them. If they do, it's cause for termination.
This is a shame and one less choice for the growers for sure.
Try to get the approvals to open an independant chicken slaughter house around here and see who is fighting it every step of the way.
oh what an ass this man was or is I hope hes dead
my father built the Purina Mill in Delmar and worked there then got sold out to Red and White and then Allens and each time lost out on benefits and when he retired Allen personally delivered a cheap watch with his name spelled wrong on it
what a terminal DOUCHE BAG.....and the exposure to all the steroids and indescript fillers ...box cars of stale twinkies and mattress fodder they put in feed exposed him to agents that took his life miserably that Mill was and is one huge dirty death trap
just a trick on not only the growers but everyone affiliated with said CROOK
Well Chick Allen is not only to blame but those he hired are to blame for instance: The Vice President of Transportation stole more than 700,000 in one week and when caught a "dog and Pony show" cuff him and take him out only to drop the charges after knowing he stole that and more money from Allen Family Foods. Than there is a guy who runs Security in Harbeson by the name of Paul and he sells stolen CD's and smokes dope with the imates at Harbeson; can not steal from that plant huh? Than you have the director of Allens who lives in a Mansion and has an enormous gun collection and brags that he got it all working for Allens; sure he did not steal anything HUH? And the list goes on.
Too bad for those who worked there to pay their bills while the big shots smoked dope and stole the company out of buisness!
4:08
The Delmar Mill isn't even Allens owned anymore, it's Amick - idiot
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