P.C.A. files for Chapter 7 bankruptcy protection
February 13, 2009
by Keith Nunes
LYNCHBURG, VA. — The Peanut Corporation of America filed for Chapter 7 bankruptcy protection in the U.S. Bankruptcy Court in the Western District of Virginia on Feb. 12. The filing comes less than a month after products manufactured at the company’s Blakely, Ga., facility were linked to a food-borne illness outbreak that has led to the largest food recall in U.S. history.
In the filing the company estimated the value of its assets to be between $1 million and $10 million and its estimated liabilities to be in the same range.