Citing Swine Flu, Pork Producer Goes Bankrupt

A North Carolina pork producer has filed for bankruptcy after complaints from unpaid vendors and falling pork consumption tied to swine flu fears.

The News & Observer of Raleigh reported that Coharie Farms of Clinton filed for bankruptcy and will appear in court Tuesday. Coharie owner Anne Faircloth says she plans to liquidate the company and some of its 170 employees will be laid off.

As many as 30 farmers complained earlier this month that Coharie hadn't paid for grain deliveries. Coharie's debts to various vendors top $3 million.

The company blamed losses on a 2008 jump in grain prices, a $20 drop in hog prices and unwarranted fears about swine flu driving down pork consumption. Coharie has lost $17 million this year.

North Carolina has the second largest pork industry in the country.

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  • by rt Location: nc on Nov 11, 2009 at 02:40 PM
    The last time i checked food didn't magically appear on shelves, when farmers lose so do we.think about that.
  • by p on Nov 11, 2009 at 01:22 PM
    Who were they going to sell it to, Ace? Were you going to buy it? Maybe the farmers were trying to make their ends meet from their input costs skyrocketing as well. They probably just need to hire you based on the intelligent advice you gave them in this post. That will make it all ok.
  • by ace Location: plymouth on Nov 11, 2009 at 09:07 AM
    The key word here is Clinton. The biggest hit I think that affected this market was grain going for over $6.00 a bushel and the selling price not increasing proportionally. The farmers should have seen this coming and quite selling grain to these people.
  • by P on Nov 10, 2009 at 08:39 PM
    I feel dumber for having read some of the comments left here today. Some people have no clue what they are talking about. Uninformed idiots who like to complain.
  • by amen on Nov 10, 2009 at 01:36 PM
    With all of the ecoli in the beef industry and the swine flu around we are just reaping what we've sown. Years of the Bush legacy and fewer FDA oversight and inspections have given us tainted beef and pork. Thanks, George!
  • by B Location: NC on Nov 10, 2009 at 01:23 PM
    It will not be the last to close, when all the farmers close up shop what are we going to eat?
  • by Just saw Food Inc on Nov 10, 2009 at 09:39 AM
    Maybe if the farmers raised their animals in a healthier way before they slaughtered them for our tables, we'd be willing to buy their meat. Most hog farms in this area are destroying the planet and our health so it is a good thing that more start to close. Maybe Smithfield will wake up and improve their factories.
  • by Smarter already on Nov 10, 2009 at 08:36 AM
    Maybe people are already getting smarter and reducing how much meat they eat as a way to fight the obesity issues here in NC. As more people eat less meat for health reasons more hog farms will close and we'll have fewer environmental problems due to their waste lagoons.
  • by a Location: wilson on Nov 10, 2009 at 07:33 AM
    yes it is a shame. and we are one of those farms that are not without a contractor. We have to find a way to feed our kids now thanks to society.
  • by Barlow Location: Winterville on Nov 10, 2009 at 05:47 AM
    What a shame and a waste. Just goes to show how generally ignorant we are as a society. Lets hope the next generation of consumers are smarter.

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