Kane Beef Sold, Court Says
The court-ordered auction of Kane Beef, the Corpus Christie, Tex., beef packer that fell into Chapter 11 bankruptcy in January, has been completed. According to an online docket from a Houston bankruptcy court, the sale took place by 4 p.m. Thursday.
No further details have been released, though a final hearing to approve the sale will be held Monday afternoon (Feb. 11) in Houston. The potential buyer has not been named.
Kane Beef’s 725 employees have been furloughed since last week. Last year Kane harvested roughly 270,000 head of fed cattle.