It looks like the 2019 purchase of a frozen food business is starting to melt.
Back in August 2019, Global Foods Group Inc. of Clinton agreed to pay $2.9 million for the frozen food business and other property from Mattfield Farms Inc. of Olive Branch, Mississippi. The transaction included Mattfield’s frozen pizza and chicken wing equipment to make food under Mattfield Farms’ name, Mattfield said in the suit filed last month in U.S. District Court in Little Rock.
Global was to pay Mattfield the money in weekly installments, the suit said. Also on Sept. 1, 2019, Global tapped a line of credit that Mattfield extended to Global. But Mattfield said that Global has failed to make its payments from September through last month.
Mattfield said Global owes it at least $3.3 million in damages, which includes $423,000 outstanding for the line of credit, according to the lawsuit filed by attorneys Paul D. Waddell and Samuel T. Waddell of the Waddell Cole & Jones firm in Jonesboro.
Global is aware of the lawsuit, its attorney Jake Fair of Wright Lindsey Jennings of Little Rock told Whispers.
“We intend to vigorously defend against allegations and the claims in the complaint,” he said.
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