Bidders Qualifying for Beef Plant Auction

Potential buyers of an idled, bankrupt South Dakota beef plant have until Friday to apply to become qualified bidders for the upcoming auction.

Potential buyers of an idled, bankrupt South Dakota beef plant have until Friday to apply to become qualified bidders for the upcoming auction.

A minimum bid of $12.75 million was set for Northern Beef Packers — a fraction of the roughly $115 million invested on the plant and equipment.

The sale includes the Aberdeen plant’s property, fixtures, improvements, machinery, equipment and supplies.

The U.S. Bankruptcy Court will determine which applicants can participate in the Dec. 5 auction at the federal courthouse in Sioux Falls. An investment banking firm working with Northern Beef, White Oak Global Advisors, is automatically deemed a qualified bidder.

Northern Beef opened on a limited basis in 2012 after years of delays but closed after it didn’t have enough money to buy cattle for slaughter.

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